Bloomberg: Russia Clinches Greece Accord to Build Gas Pipeline to Europe

Russia signed a preliminary agreement on building a natural-gas pipeline through Greece, a deal that signals strengthening ties between the countries as the crisis-stricken government in Athens is increasingly isolated from the rest of Europe.

Russia’s development bank, known as VEB, will own 50 percent of the 2 billion-euro link and provide all financing, Greek Energy Minister Panagiotis Lafazanis told reporters after the signing in St. Petersburg, Russia, on Friday. Greece will own the rest, Russian Energy Minister Alexander Novak said.

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