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Agreement on restructuring Venezuela’s debt to Russia unchanged, says ministry

Juan Guaido, Venezuelan opposition leader and parliament speaker declared himself interim president at a rally in the country’s capital of Caracas on January 23

MOSCOW, January 29. /TASS/. The agreement on restructuring Venezuela’s debt to Russia has remained unchanged, the Finance Ministry of the Russian Federation said in a statement on Tuesday, adding that it expects the next payment at the end of March as scheduled.

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Venezuela may face problems with servicing $3 bln state debt

"There is an agreement between Russia and Venezuela on restructuring Venezuela’s debt that stipulates the terms and the payment schedule. The next payment is due at the end of March. Russia’s Finance Ministry expects payments as scheduled. There have been no changes made in the agreement, Venezuela has to fulfill obligations to the creditor it has assumed," the statement said.

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.

Deputy Minister Sergei Storchak said earlier on Tuesday that the Finance Ministry does not rule out that Venezuela might face problems with servicing the state debt as a result of political crisis, adding though that there have been no overdue payments.

Political upheaval rocks Venezuela

Juan Guaido, Venezuelan opposition leader and parliament speaker, whose appointment to that position had been cancelled by the country’s Supreme Court, declared himself interim president at a rally in the country’s capital of Caracas on January 23. Several countries, including the United States, Lima Group members (excluding Mexico), Australia, Albania, Georgia and Israel, as well as the Organization of American States, recognized him. Maduro, in turn, blasted the move as a coup staged by Washington and said he was severing diplomatic ties with the US.

Meanwhile, Spain, France, Germany, the United Kingdom and the Netherlands said that they would recognize Guaido as Venezuela’s interim president unless Maduro called elections by February 3.

In contrast, Russia, Belarus, Bolivia, Iran, Cuba, Nicaragua, El Salvador and Turkey voiced support for Maduro, while China called for resolving all differences peacefully and warned against foreign interference. The United Nations secretary general, in turn, called for dialogue to resolve the crisis.

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