The Russian government has approved
plans to delay Venezuela's repayments on a loan worth $2.84 billion, according to a statement posted on the government's online portal for legal information.
A new payment plan has been put in place to “take into account the economic crisis faced by Venezuela in recent years.”
The loan, which was issued by Moscow in 2011, was due to be repaid in March 2019. The Venezuelan government will now use that date to begin making repayments, due every six months for three years.
Russia and Venezuela
have traditionally enjoyed good relations, cemented in the Soviet era
by Venezuelan leader Hugo Chavez. The country has suffered rampant
inflation in recent years, leading to food shortages and widespread
protests.
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