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Putin instructs government to study Cyprus loan restructuring

March 25, 2013, 15:50 UTC+3
Earlier, Russia extended a loan worth 2.5 billion US dollars to Cyprus
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NOVO-OGAREVO, March 25 (Itar-Tass) – Russian President Vladimir Putin has instructed “the RF government and the Ministry of Finance to study together with the partners issues of restructuring the loans previously granted to Cyprus,” the president’s press secretary Dmitry Peskov told journalists.

“Taking into account the decisions taken by the Euro Group, Putin considers it possible to support the efforts of the President of Cyprus, as well as of the European Commission, aimed at overcoming the crisis in the economy and the banking system of this island nation,” Peskov said. According to him, this instruction was give for these considerations.

Earlier, Russia extended a loan worth 2.5 billion US dollars to Cyprus.

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