All have gone on a break

In talks with China about the involvement of credit of $ 25 billion to $ 10 billion of which – for Transneft and 15 billion dollars – for Rosneft under the guarantee of oil supplies, announced a technical break.According to RBC daily Vice President Transneft Mikhail Barkov, the Russian delegation returned to Moscow to receive new instructions. In doing so, he believes that at this week’s talks will resume. According to him, the parties have differences on the price of money, the timing of credit and guarantees its security. He voiced that during the talks it was decided to abandon the use rate LIBOR. Earlier figures (LIBOR +5%), which categorically did not satisfy the Russian side, revised formula has changed. However, he refused to disclose it, citing the fact that negotiations are continuing and conditions are subject to change. In doing so, Mikhail Barkov stressed that this is not 7% per annum (about a desired rate or lower than previously said the company president Nikolai Tokarev). The number one , – he said, adding that in the event of harmonizing conditions of the loan will be received at least five years. Mikhail Barkov stressed that China has not recognized the possibility of providing credit through the issuance of bonds Transneft .