February 10, 2009 / 1:15 AM / 10 years ago

Russia to seek postponement of private debt -Nikkei

TOKYO, Feb 10 (Reuters) - Russia will request negotiations with European and other foreign banks to postpone repayment on up to $400 billion of its private sector debt, Japan’s Nikkei business daily said on Tuesday.

The newspaper quoted a Russian banking industry official as saying up to $400 billion in debt was at stake.

A proposal for postponing repayment had been submitted to the government and some foreign banks have already agreed to start negotiations, the Nikkei said. (Reporting by Masayuki Kitano; Editing by Rodney Joyce)

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