URGENT ¥¥¥ Putin orders cabinet to study restructuring Cyprus loan

Russian President Vladimir Putin has ordered his government to study restructuring a 2.5-billion-euro loan that Moscow extended to Cyprus in 2011 and must be paid back by 2016, the Kremlin said on Monday.

Putin instructed "the government and the Russian ministry of finance to work with their partners on the issue of restructuring the loan previously issued to Cyprus," news agencies quoted Putin spokesman Dmitry Peskov as saying.