Russia Welcomes Argentine Initiative on Common Debts Restructuring Rules

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President Vladimir Putin said that Russia supports the initiative by Argentina to develop common sovereign debt restructuring rules.

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MOSCOW (Sputnik) — Russia supports the initiative by Argentina to develop common sovereign debt restructuring rules, President Vladimir Putin said Wednesday.

"Madam President, we saw that you and your nation fought for Argentina’s interest in the dispute over financial matters. We welcome the Argentinian initiative to develop common rules for justly restructuring sovereign nations’ debts," Putin said during a video linkup with President of Argentina Cristina Fernandez de Kirchner, as quoted by the Kremlin’s press service.

He pointed out that in September, “Russia supported Argentina’s draft resolution on this matter at the UN General Assembly.”

“As I already said, we share Argentina’s firm and principled stand opposing international speculative funds, whose actions are based on decisions by purely national US courts,” Putin added.

In April, Kirchner met with Putin during an official visit to Moscow. The sides signed a number of cooperation deals and said that the bilateral ties between Moscow and Buenos Aires were strengthening.

According to the Argentinian Constitution, Kirchner, who has won two previous general elections, cannot be re-elected for a third term in the presidential elections scheduled to take place in the country on October 25.

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