Will Russia Help Ease Greek Debt?

With a €460 million euro debt repayment to the International Monetary Fund due by the end of the day on Thursday, Greek policymakers are desperately trying to scrape together some cash and avoid default.

Greek Prime Minister Alexis Tsipras has promised to pay the sum on time, but many believe that it is only a matter of time before the nation's treasury runs out of money. With the EU still insisting on more reform in Athens before it will lend any more money, Tsipras has begun to look elsewhere for debt relief.

In what could be seen as a "slap in the face" to his European counterparts, Tsipras traveled to Russia this week in order to strengthen ties with Moscow and discuss ways for the two nations to work together in the coming years.

Related Link: Russia's Putin Says Greece's Participation In Turkish Stream Will Depend On Greek Gov

Russian Visit A Source Of Mistrust

This has had a detrimental impact on Greece, which has long depended on exports to Russia. However, during the visit, Russian President Vladimir Putin and Tsipras discussed ways around these rules.

Energy Project Could Give Greece A Financial Boost

While no deal has been made yet, the project could help ease some of Greece's debt problems and take the pressure off negotiations between Greek policymakers and EU creditors.