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Putin approved protocols to postpone payment of Cuban debt

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Putin approved protocols to postpone payment of Cuban debt

Moscow, Jun 11 (Prensa Latina) Russian President Vladimir Putin signed a law that ratifies four protocols of the Russian-Cuban intergovernmental loan agreements that grant Havana a deferral of payments, the legal information website published on Saturday.
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The document was ratified on June 8 by the Russian Federation Council (Senate) and on May 24 by the State Duma (Lower House of Parliament). During the exchange of opinions on the subject in the upper house, the senators stressed that the extension of these agreements will allow them to help Cuba finance oil supplies and will help strengthen Russia’s position in Latin America.

The International Affairs Committee of the Federation Council pointed out that cooperation between Cuba and Russia is very important for the country.

The provision of aid to the friendly Republic of Cuba to finance the purchase of oil and its byproducts will contribute to strengthening the political positions of the Russian Federation in Latin America, the committee stressed.

One of the protocols modifies the bilateral agreement on the granting of a state loan, dated January 30, 2009, and another on the approval of a credit to finance the supply of oil and its byproducts to Cuba, signed on March 20, 2017.

Another two extend the respective agreements between Moscow and Havana on the provision of loans to finance supplies of oil and its byproducts to Cuba, signed on December 13, 2017 and July 19, 2019.

Between 2006 and 2019, Russia provided Cuba with state export loans for an amount equivalent to 2.3 billion dollars, the explanatory note on the new law indicated.

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