The inscription on the pedestal reads: "In memory of the victory at the Kagul River in Moldavia, July 21, 1770, under the command of Count Peter Rumyantsev the Russian army of seventeen thousand caused the Turkish Vizier Galil-Bey and his army of one hundred thousand and a half to flee to the Danube".
Notes
Wikimedia Commons has media related to Kagul Obelisk.