Russneft is negotiating the restructuring of its $554 million debt

Russneft is in negotiations with its main creditor to restructure its $554 million debt, which is due to be repaid in March, according to the company's report. Russneft also wants to postpone the redemption of the preferred shares held by the creditor, which is stipulated in the current forward contract. Company has received a payment deferral for its loan and forward contracts until the end of April and is currently in active negotiations.