On April 27, 2006, Rosneft successfully completed its rounds of talks on the reduction of interest rates under its existing loan agreements with foreign banks.

As agreed, the interest margin under existing loan agreements for the total amount of over $3 bln has been reduced threefold from the 1.90% average to 0.65%. The new interest rate level reflects the recognition by the international banking community of the significant reduction in the level of Rosneft’s credit risk.