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Venezuela may face problems with servicing $3 bln state debt

According to Russia's deputy minister, the next payment of over $100 mln is scheduled for the end of March

MOSCOW, January 29. /TASS/. Russia’s Finance Ministry does not rule out that Venezuela may face problems with servicing an over $3 bln state debt provided by Moscow to the country as a result of political crisis, Deputy Minister Sergei Storchak said Tuesday, adding that there have been no overdue payments.

"Probably there will be problems. All depends on the army, the military, how dutiful they will be," he said.

According to deputy minister, the next payment of over $100 mln is scheduled for the end of March.

"Payments are made in September and March. There have been no overdue payments," he noted.

In November 2017, Moscow and Caracas signed an intergovernmental protocol on restructuring Venezuela’s debt to Russia amounting to $3.15 bln, which stipulates full repayment within a ten-year period and minimal payments in first six years.