The Treaty of Rapallo was an agreement signed on 16 April 1922 between Germany and Russia under which both renounced all territorial and financial claims against each other and opened friendly diplomatic relations. The treaty was negotiated by Russian foreign minister Georgi Chicherin and German foreign minister Walther Rathenau. It was a major victory for Russia especially and also Germany, and a major disappointment to France and the United Kingdom. The term "spirit of Rapallo" was used for an improvement in friendly relations between Germany and Russia.