CARACAS (Sputnik) — According to the source, two representatives of the Venezuelan government will arrive in Moscow to sign the deal.
In October, Russian Finance Minister Anton Siluanov said that he and his Venezuelan counterpart had agreed in general on the principles of restructuring Venezuela's debt. The minister added that the agreement might be signed before the end of the year.
On Monday, the country's President Nicolas Maduro said that the agreement with Russia was expected to be signed this week. On November 10, a source familiar with the negotiations told reporters that Russia was preparing to sign the deal on November 15.
In 2011, Russia issued a loan of up to $4 billion to Venezuela to purchase Russian industrial products. The debt was due to be repaid in 2019. However, in 2014, Caracas asked for an extension of the repayment terms over the deterioration of the financial and economic situation in the country amid falling oil prices.
In September 2016, Moscow approved the postponement of the deadline for the repayment.