Russia to advance Greece €5bn against Turkish Stream profits

Greek Prime Minister Alexis Tsipras and Russian President Vladimir Putin in Moscow

Greek Prime Minister Alexis Tsipras and Russian President Vladimir Putin

Russia to advance Greece €5bn: According to reports on Germany’s Spiegel Online website, Russia is planning to advance Greece between €3bn and €5bn against the transit it fees it will eventually receive once Russian gas is transported across its territory to northern Europe through the so-called Turkish Stream pipeline. An agreement is expected to be signed on Tuesday and would give Greek Prime Minister Alexis Tsipras and his colleagues some much-needed breathing space during its debt negotiations with the EU and the IMF.
The idea of running a pipeline from Russia along the bed of the Black Sea, through Turkey and then onto Greece resurfaced earlier this year after the EU put pressure on Bulgaria to withdraw its cooperation from the South Stream project, Russia’s initial plan for supplying northern Europe with gas while bypassing Ukraine. 

Source: ABN