BEIJING, February 17 (RIA Novosti) - China will extend $25 billion in loans to Russian state-controlled crude producer Rosneft and pipeline operator Transneft at 6% per annum in exchange for long-term oil supplies, a source close to negotiations said Tuesday.

Russia and China signed on Tuesday in Beijing an intergovernmental agreement on the construction of a branch of the East Siberia-Pacific Ocean (ESPO) oil pipeline toward China and long-term Russian oil supplies.

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Posted by boyang at February 17, 2009 7:14 PM