Putin signs modification of Russia-Cuba credit accords

Russia’s President Vladimir Putin signed into law the ratification of four protocols modifying Russia-Cuba intergovernmental loans Agreements.

The document, published on Russia’s Legal Information platform also considers the restructuring of the Cuban debt, according to PL news agency.

The presidential law targeted the amendment protocols signed on April 27, 2023 in Moscow, which considered the granting of state credits to the Cuban government for the exports carried out between 2009-2029 to fund the supply of oil and derivatives among other products

The legislation signed on Monday by Putin aims at guaranteeing the observance of Russia’s interests and maintaining bilateral trade and economic cooperation, as well as ensure that Cuba honors its debt compromises. 

Russian State Secretary Alexei Sazanov had previously said that the modifications ease the mechanism for Cuba to pay its debts.

Sazanov, also the deputy finance minister, said that the results of negotiations have made it possible to make changes in the credit payment conditions: payment in the Russian currency, postpone the payment slated for the period 2023-2027 for the period of 2028-2040.