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Putin Warms to Cyprus Deal With Order to Renegotiate Loan

Russian President Vladimir Putin signaled acceptance of an accord reached by Cyprus on an international bailout, a week after berating an earlier rescue plan as “unfair, unprofessional and dangerous.”

Putin today ordered the government to start talks with Cypriot authorities on restructuring a 2.5 billion-euro ($3.2 billion) loan granted by Russia in December 2011, the president’s spokesman, Dmitry Peskov, said by phone. Terms sought by Cyprus would amount to a 10 percent writedown of the loan, Finance Minister Anton Siluanov said today.