§ Mr. Hooley
asked the Lord Privy Seal what changes have been made in the arrangements for the supply of credit for exports to the Soviet Union in consequence of the Soviet invasion of Afghanistan.
§ Mr. Blaker
As envisaged in the statement by my right hon. Friend in the House on 24 January 1980, the British-Soviet credit agreement of 1975, which expired on 16 February 1980, was not renewed. Credit is now being considered on a case-by-case basis and is being made available at the rates set by the international consensus on credit terms. The Government's view remains that all trade should be pursued on a basis of mutual advantage. As already indicated on 24 January 1980, we shall apply that principle to British Soviet trade—[Vol. 977, c. 655–60.]