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Vladimir Putin signed Federal Law On Ratifying the Protocol on Amending the Agreement between the Government of the Russian Federation and the Government of the Republic of Cyprus on Providing a Financial Loan to the Government of the Republic of Cyprus of December 23, 2011.
The Protocol was signed in Moscow on August 30, 2013.
Following the sharp deterioration in the Republic of Cyprus’ financial situation, the Protocol reschedules the deadline for repaying the principle debt from 2016 to the 2018–2021 period.
Moreover, beginning on March 2, 2013, the Protocol reduces the annual interest rate on the loan from 4.5% to 2.5%.
March 9, 2015