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Russia denies planning €5bn to Greece in advance for pipeline transit

After the news made the rounds, Russia denied media reports that it is going to give Greece a loan of up to €5 billion as advance payment for future transit profits from a future gas pipeline. Russian President’s spokesman Dmitry Peskov said no such loan was planned.

“[Russian President Vladimir] Putin said himself during the media conference that nobody asked for our help. Naturally energy cooperation was discussed. Naturally, the parties of the high level talks agreed to work out all details of these issues at an expert level. Russia didn’t offer financial help because it was not asked,” the spokesman told the Russian radio station Business FM (RT.com).

Citing Greek government sources, German DER SPIEGEL and Greek newspaper  AGORA reported on Saturday, that Moscow would pay Greece 5 billion euro in advance for transit charges for the Russian – Turkish gas pipeline project. The unexpected financial injection was reportedly agreed between President Vladimir Putin and Greek Prime Minister Alexis Tsipras in Moscow last week.

The advance payment would be a kind of Russian “loan” to debt-ridden Greece currently in a status of economic asphyxiation by its creditors.

Greece is expected to shortly join a joint Russian-Turkish pipeline project Turkish Stream that will pump Russian gas to Europe via Turkey. The project is expected to start operation in 2019.

A memorandum of cooperation is expected to be signed between Russia and Greece in upcoming week, Gazprom CEO Alexei Miller was in Athens last Wednesday.

All I can think of is : when creditors make pressure, Greece’s government feels like joking with them. The Brussels Group is meeting today.

PS It was too good to be true… do be doo be doo…


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  1. The Greek government are proving to be experts at geopolitical shuttle diplomacy. The fact that there is much shuttling between Russia & Greece with talk of gas pipe lines and other trade deals etc is sending a direct message to the EU and its cronies that any future debt payments will be honoured within a timeframe specified by Greece itself. If Greece cannot force a compromise between itself and its lenders, then Greece will go elsewhere (Russia & China) to finance social provision and other activities of State. The days of the Troika & EU steam-rolling their way and imposing their world economic & social views are slowly drawing to a close – about time too.

  2. Der Spiegel is simply passing rumors to increase readership and stir the pot.

  3. Maybe the denial is connected to the amount, maybe there will be a kind of ‘barter’ arrangement of the type the former Soviet Union arranged with Cuba–energy (petrol) for veg/fruit/tobacco etc. This is useful for Russia as it offers alternative access to Mediterranean products and barter may be a way around the EU sanctions. Why not.

    In all ways Syrizia should be creative, like Ariandnae-following a way out of the cave.

  4. This is business – billions of dollars at stake – as if they are going to TELL anything until it siuts them – if it suits them.