Putin Ratifies Protocol to Agreement on Loan to Venezuela

Russian President Vladimir Putin has signed a law ratifying the protocol to the intergovernmental agreement on providing a loan to Venezuela by Moscow, which guarantees timely debt repayment to Russia, RIA Novosti reported.

The law was published on the official website of the legal information of the Russian government on Monday.

The protocol stipulates changes into a number of terms connected with restructuring of the debt of the Bolivarian Republic of Venezuela to the Russian Federation, including development of a mechanism that guarantees timely repayment of due funds to Russia.

In accordance with the agreement between Russia and Venezuela dated December 8, 2011, the loan amounts up to $4 bln. The Venezuelan side pays loan interest at the rate of 7.4% per annum.

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