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. Last Updated: 07/27/2016

Fast Debt Deal Sought

LONDON -- Russia has given the clearest signs yet that a deal to restructure $32 billion of Soviet-era debt with its London Club creditors may be closed before a crucial Dec. 2 deadline.

As both sides began a seventh round of talks in London, Finance Minister Mikhail Kasyanov fueled market hopes of a deal Wednesday when he said there was a chance of a basic agreement as soon as Thursday. However, details would take longer, he added.

Markets have leapt ahead on hopes both sides would agree to basic terms before Dec. 2 when a $550 million coupon payment on the Soviet-era debt falls due.