The Greek "White Knight" Emerges: Putin To Give Athens €5 Billion For Advance Gas Pipeline Fees

Tyler Durden's picture

With Greece teetering on the edge of insolvency and forced to raid pension and most other public funds, ahead of another month of heavy IMF repayments which has prompted even the ECB to speculate Greece should introduce a parallel "IOU" currency, a white knight has appeared out of nowhere for Greece, one who may offer $5 billion in urgently needed cash. The white knight is none other than Vladimir Putin. “Just because Greece is debt-ridden, this does not mean it is bound hand
and foot, and has no independent foreign policy,” Putin said previously.

According to Spiegel, citing a senior figure in the ruling Syriza party, Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring up to €5 billion into the depleted Greek coffers.

The move could now "turn the tide" for the debt-stricken country according to a senior Greek official.

As Reuters adds, during a visit to Moscow earlier this month, Greek Prime Minister Alexis Tsipras expressed interest in participating in a pipeline that would bring Russian gas to Europe via Turkey and Greece.

Under the proposed deal, Greece would receive advance funds from Russia based on expected future profits linked to the pipeline. The Greek energy minister said last week that Athens would repay Moscow after 2019, when the pipeline is expected to start operating.


Greek government officials were not immediately available to comment on the Spiegel report.

Of course, this being Greece, the probability of actual repayment is negligible: after all the likelihood of a Greek default is astronomical, and €5 billion will do little to change the mechanics of Greek debt sustainability. And Putin very well knows this.

However, the Russian leader is not acting out of the kindness of his heart, but merely engaging in another calculated move, one which kills two birds with one stone:

  • Following the death of the South Stream, whereby the EU pressured Bulgaria to refuse passage of the Russian gas pipeline to Europe, Russia needed an alternative route of bypassing Ukraine (and Bulgaria) entirely, something which according to Kremlin's plan should happen over the next 3 years. And with Hungary and Serbia all eager to transit Russian gas to the Austrian central european gas hub, Greece was the missing link for a landline transit. With this agreement, Russia gets the green light to extend the Blue Stream all the way to Austria and preserve its dominance over the European energy market while leaving Ukraine in a completely barganining vacuum.


  • Perhaps just as importantly, suddenly Russia will energy as the generous benefactor riding to Greece's salvation, in turn even further antagonizing the Eurozone and further cementing favorable public opinion. As a reminder, several weeks ago we showed that Russia already has a higher approval rating among the Greek population thatn the Eurozone. In this way, Russia has just won a critical ally for the very low price of just €5 billion, without even having to restructure the entire Greek balance sheet should Greece have exited the euro and been attracted to the Eurasian Economic Union. Which also means that all future attempts to impose further sanctions on Russia by Europe will fail thanks to the Greek veto vote.

Russia is not alone in seeking to divide the spoils of the collapsing Eurozone: Beijing has also sought to invest in Greece's infrastructure and bought up €100m worth of short-term government debt last week the Telegraph reports.

Ironically, it was none other than Germany's finance minister Wolfgang Schauble who said the Greeks are free to pursue deals with Russia and China as they rush to avoid an impending bankruptcy. Turns out the Greeks decided to do precisely as the German suggested, and the outcome will certainly not be to Germany's liking.

The only question following what may well be another masterful stroke by Putin is what will Europe do, now that Putin has in the span of under one year, not only "annexed" Crimea but fully drawn Greece (and the Mediterranean courtesy of Cyprus) into its sphere of influence.

*  *  *

While we are sure the European leadership will be 'disappointed' at Greece's get-out-of-Troika-jail card thanks to Russia, The Greek people have already expressed their opinion on just who they trust more...

Despite all the western propaganda...

*  *  *

Finally, for those confused about the flow of funds, here it is:

Russia (Gazprom) gives Greece money, which Greece uses to repay the IMF, which uses the Greek money to fund a loan to Kiev, which uses the IMF loan to pay Russia (Gazprom).

A perfect circle.

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Jacksons Ghost's picture

Putin indirectly paying Western bankers? He is going to want something big.

somecallmetimmah's picture

Maybe if we give more weapons to the Ukrainians, it'll help calm things down?....

Arius.'s picture

"Of course, this being Greece, the probability of actual repayment is negligible..."


Common tyler, you know better than to pile on "being greece rhetoric" ... just sayin'


btw, interesting move on Friday .. my take has nothing to do with Bloomberg chat rooms, perhaps a bit more with no margins on short sell in China and probably much more with Greece ... will see what Monday (and the next week or two) will bring

palmereldritch's picture

'Greece' and 'Putin's Pipeline'? These headlines should write themselves

Terminus C's picture

Nah, the only part that mattered in this article is the end, the rest is just optics.

A perfect circle indeed.  Almost like a washing machine...

Round and round we go.

Manthong's picture

So, I forget.. from where do the greatest chess players originate?

..and from where does the long lost western logic and philosophy originate?

Maybe some nice Tennessee whisky or Rhine wine could help the Bulgarians in their sorrow now.

When the Queen is finally trapped, it will all come down to how many tons of shiny no longer are there in her storm cellar.  



Lore's picture

Never mind 'Turkish Stream' or 'Blue Stream.'  The whole pipeline complex about to save European national economies should be commemorated as 'Putin Stream.'

Latina Lover's picture

EU Brussels to USSA President:  You.Must.Attack.Russia. NOW.

Manthong's picture

And another thing..

The sociopaths that are currently in control think that they can just put their foot down, all will be well  and the peasants will eat their brioche as appropriate.

They might be a bit too much optimistic.

RafterManFMJ's picture

5 Billion Euro to buy the Greek's friendship; 5 Billion US to enslave and destroy the Ukraine via Nazi Fascist Civil War.

Putin plays chess while Oblamo and Company (get it?) shit on the globe and wonder why people are abandoning them.


Haus-Targaryen's picture

Oh come on.  This is a suprise for no one. 

macholatte's picture


More pieces to the puzzle:

1. There is one pipleine from Russia to EU now which goes through Ukraine.
2. Do Russkies want a second pipeline so they can bypass Ukraine and all the probems or just increase the flow?
3. Arabs want their own pipeline to EU.
4.  Can there only be one more pipeline or is there room for a third from the ME?
5.  What is stopping the EU from simply NOT buying gas from Russia once the Arabs are online?
6.  The wars in ME are stopping the arab pipeline which is good for Russia. Is Russia instigating is ME?

7.  Where is there any benefit in any of it to the American sheeple?
8.  Why is the USA involved?  Can’t the EU $16T economy carry its own water?


HowdyDoody's picture

What is the value to Russia of a veto over further EU sanctions against Russia?

cnmcdee's picture

The squids and reptillians must be rolling around the floor in convulsions!! How *dare* anyone interrupt their feeding cycle!!

knukles's picture

Pootie looks suspiciously Photo Shopped in that Pic....  The light and shadow on their faces don't seem consistent.
But WTF.  They handled it all by Skype.
Now, if Mike and Barry would just take a nice long vacation without the kids, things could all be better

Squid-puppets a-go-go's picture

perhaps im one step beyond cynical, but maybe this is what the EU/IMF have been angling for: Russia to pay for the infrastructure to give them an alternative to ukraine pipeline

GMadScientist's picture

Nah, this would also cede control as well, something they would never sign onto willingly.

philipat's picture

I smell a rat. This is just too easy for Greece. Putin holds all the cards and must have extracted some substantial guarantees in return. If not, Greece will need the money more than ever a few months from now and the pipeline can go ahead even after Greece pulls out of the Eurozone (But not necessarily the EU).

GMadScientist's picture

He doesn't seem to have a right hand, perhaps it's stuffed somewhere cozy in Greek fashion.

I've seen my share of payday loan centers, but never one with Cyrillic signage.

Vincent.Vega's picture

1) Nord Stream is also up and running:

Germans are still struggling against the ZOG occupation, though German National Liberation Movement is not covered in the US (Americohen, to be exact) media and the Nord Stream gives Germans hope to survive the coming Greatest Depression -- as a part of the Germany-Russia-China axis.

Don't forget that WWI was started to prevent Germany from building the Berlin-Baghdad Railroad -- there is a good book by William Engdahl (who now lives in Germany), The Century of War: or here:


2) Russians don't intend to increase the flow to Gayrope, other than to their German cousins and Yugoslav brothers.

Gayrope is a Tier 2 vassal to the US (Cohenada and UK being Tier 1), but enjoys a free lunch as well -- without having any human capital (other than swarms of degenerates) or natural resourses whatsoever. Russia, along with other colonies of the ZOG/US, pays a colonial taxation (all central banks in the world are branches of the Federal Reserve, and are currency boards, pretty much, though ECB has a higher status than the other CBs and collects a colonial tribute from its own vassals), and that cash flow comes back to colonies as high interest rate "investements", in the mid 90's the prime rate was reaching 200%, completely preventing any modernization of the industry.

Putin's ultimate goal is to supply natural gas only to Germany and China/Asia. And once the colonial cash inflow to Gayrope is cut, along with natural gas (since there is nothing to pay with), that territory is going back to the Dark Ages.


3,4,5) EU is technically a bankrupt anyways (see 2)

All the wealth accumulated by the West in the last five hundred or so years of colonialism/parasitism was gobbled in the post-WWII years (to compete with USSR's social state, quasi-social states were created in the West, with the ephemeral "middle class") -- and there is nothing left now.


6) So far Russia is trying to put out the conflict in Syria. However, it would be inaccurate to blame the USA only, wars in the Middle East are instigated by ZOG and US is just their tool, same as ISIS.

ZOG's idea is to create an ultimate chaos and hell in the rest of the world and provoke a capital run into the US debt instruments -- and after that voila, ta-da, start a hyperinflation (with USD losing approximately 80% of it's value almost overnight, within 1-2 month). That's the only way for  ZOG/"elites" to resolve the  government debt issue (the overal debt is estimated to be USD 60-80 trillion) and to escape the faith of Bardi family:


7)  John F. Kennedy tried to save the sheeple but never managed. The only hope, i believe, is Putin, who's puting the Fight of the Century against the ZOG, and if he succeeds, the sheeple can be freed along with the rest, and that's the only benefit for them.

At this point Pitin is having too many issues with the enemy inside his country, since Russia did lose The Cold War to ZOG, and the colonial "Russian" Contitution was written by the US (i.e. ZOG, since US is its victim since the Civil War) consultants in the 90's. The Central Bank of Russia, technically being a branch of FED, is not controlled by the state, and a "president" is supposed to be a guarantor of the (colonial) Constitution and can't change it. In fact, the role of a president is pretty much a colonial notary (check if ten other signatures are there, then sign the document too), so Putin acts a leader of the Russian National Liberation Movement.


To say that the Ukraine is not a part of Russia is like saying that New Mexico or Texas are not parts of the USA.

Russian North West (the "Baltic Countries") and South West (the "Ukraine") are under occupation by the US (i.e. ZOG) and are under direct control of the US Embassy in Kiev, with its staff head count being biggest in the world.

It's not the first time around: (American sheeple/goyim sent by ZOG to Russia to kill Russian goyim)


The Polar Bear Expedition (also known as the Northern Russian Expedition, the American North Russia Expeditionary Force - ANREF or the American Expeditionary Force North Russia - AEFNR) was a contingent of about 5,000 United States Army troops[1] that landed in Arkhangelsk, Russia as part of the Allied intervention in the Russian Civil War and fought the Red Army in the surrounding region during the period of September 1918 through July 1919.



GMadScientist's picture

I'll take places trampled by Mongol hordes for $1000, Chuck!

Vincent.Vega's picture

You nailed it. That's exactly the real intention behind the QEs: to take over the last remaining physical assets/production facilities in the world for peanuts (it's "White Man's burder" to civilize lower forms of life, i.e. goyim, by cleaning them out).


The "History"/"His Torah" has nothing to do with the past. It's a bunch of myths created by ZOG. Chingiz Khan/Cohen/Kogan was not a Mongol, his hords were Khazars (Ashkenazi):

The Serpent People Return to Ukraine by Texe Marrs:

unicorn's picture

hey vega, thx for the engdahl pdf;) 

if you understand german you should read jürgen roths "gazprom, das unheimliche imperium"

gazprom is more related to germany, than anybody seems to know here

will ling's picture
will ling (not verified) Latina Lover Apr 18, 2015 11:02 PM

no doubt long gamed.

Anusocracy's picture

I'd gladly pay you Tuesday for a bailout today.
- Wimpy Greece

max2205's picture

I got to get in my time machine to see how this right back....

Tall Tom's picture

So, I forget.. from where do the greatest chess players originate?



Persia (Iran), where the game was developed. Russia merely adopted it later.


Chess is believed to have originated in Eastern India, c. 280 – 550 CE,[27] in the Gupta Empire,[28][29][30][31] where its early form in the 6th century was known as chatura?ga (Sanskrit: ???????), literally four divisions [of the military] – infantry, cavalry, elephants, and chariotry, represented by the pieces that would evolve into the modern pawn, knight, bishop, and rook, respectively.


Belief without empirical substantiation is not convincing...


The earliest evidence of chess is found in the nearby Sassanid Persia around 600, where the game came to be known by the name chatrang. Chatrang is evoked in three epic romances written in Pahlavi (Middle Persian). Chatrang was taken up by the Muslim world after the Islamic conquest of Persia (633–44), where it was then named shatranj, with the pieces largely retaining their Persian names. In Spanish "shatranj" was rendered as ajedrez ("al-shatranj"), in Portuguese as xadrez, and in Greek as ????????? (zatrikion, which comes directly from the Persian chatrang),[32] but in the rest of Europe it was replaced by versions of the Persian sh?h ("king"), which was familiar as an exclamation and became the English words "check" and "chess".[note 3] Murray theorized that Muslim traders came to European seaports with ornamental chess kings as curios before they brought the game of chess.[30][page needed]

The game reached Western Europe and Russia by at least three routes, the earliest being in the 9th century. By the year 1000 it had spread throughout Europe.[33] Introduced into the Iberian Peninsula by the Moors in the 10th century, it was described in a famous 13th-century manuscript covering shatranj, backgammon, and dice named the Libro de los juegos. Another theory contends that chess arose from the game xiangqi (Chinese chess) or one of its predecessors,[34] although this has been contested.[35]


Now that is what I like...EMPIRICAL EVIDENCE.


Yes. You make a novice mistake in understanding a Chess game.


To win the game one does not set out to trap the Queen, Although she may be deadly and potent the goal is to trap the King, no matter what treasure the Queen may have.


Resignation or checkmate is the result.


Global Thermonuclear War is not an option as there is no winning move.


How about a nice game of chess, instead, Dr. Falken?


And by the way the current World Champion is from Norway.

Freddie's picture

The only American who could beat the Russians at chess was Bobby Fischer.  Who did Bobby not like besides the Russians even though he got on with Spassky?

Paul Morphy from the civil War era may have been the greatest American chess player and greatest who ever lived.  Russian and Ukrainian top chess players told me that. 

Tall Tom's picture

The IRS and the Zionist...(although one works directly for the other.)


From Wikipedia...


Afterward, Fischer became a recluse, disappearing from the public eye until 1992, when he won an unofficial rematch against Spassky. It was held in Yugoslavia, which was under a United Nations embargo at the time.[9][10][11] His participation led to a conflict with the U.S. government, which sought income tax on Fischer's match winnings, and ultimately issued a warrant for his arrest.[12]


During the 1990s and early 2000s, Fischer lived in Hungary, Germany, the Philippines, Japan, and Iceland, and made increasingly anti-American and anti-semitic remarks on various radio stations. Possibly as a result, his U.S. passport was revoked.[14][15][16] Fischer, unaware of his passport's revocation, traveled to Japan, where he was arrested by Japanese authorities,[17] and detained for over eight months (in 2004 and 2005)[18] under threat of deportation. In March 2005, Iceland granted Fischer full citizenship,[19] leading Japanese authorities to release him from prison.[20] Fischer flew to Iceland, where he lived until his death on January 17, 2008.[21]




I was not aware of that. Thanks.

Griffin's picture

Bobby Fisher was a chess genius, but also a bit odd in many ways.

I don't know why he disliked Jews so much, his mom was Jewish and probably many of his friends and family. 

One of his problems was his paranoia, that's what killed him eventually.  He did not trust doctors for some reason, so when he got sick he refused medical attention, and a minor illness that could easily be treated led to his death.

His last words were  ,,Nothing soothes pain like the touch of a person.“

Bobby Fisher lived 64 years, one for every square on the Chess table.

macholatte's picture



"Obama knocks over all the pieces, shits on the board and then struts around like it won the game.”

-- Vlad

August's picture

Well, this works in America... despite ever-critical media watching this President like a hawk.

Tall Tom's picture

I don't know why he disliked Jews so much, his mom was Jewish and probably many of his friends and family


That may be one reason...


I don't know.


Yes he was a genius and most geniuses are considered by norms shall I write it i remember...ECCENTRIC.

knukles's picture

I could swear that chest was developed by Mary Jane Stinkypants with me in the 4th grade.

Tall Tom's picture



That is breast...not chest.


Breast dammit.


Boys develop chests. Girls develop breasts.


You'd thunk you'd have learned sumthin in fourth grade...


(...unless Mary Jane was a guy...These days ya jus can't be certain of anythin, ya know?)

BaBaBouy's picture

Mmmmmmm ... EU 5 Billion...

So, How Much Is The Greek Politocos Cut ???

kaa1016's picture

This story was just denied by Russia. Good try whoever is trying to plant bullshit stories in the German media...

Winston Churchill's picture

So its true then.

Never believe anything until its officially denied.

HardlyZero's picture

There are probably Russian dachas all over that will be vacation spots for the dealmakers.


It could get interesting now with relatively big cross-border investments.  

Italy and  Turkey will also be major stakeholders to ensure they can move their natty West to Italy.


Italian Eni prior funded Blue Stream, the first major underwater natgas pipeline between Russia and Turkey built beween 2000 and 2005.


Greece is sandwiched between Italy and Turkey....a Greek Sandwich !!

Italian Olive Oil (feel the Italian love), Greek Feta and Lamb, Turkey provides the other meat....between Russian Black Bread.

Augustus's picture

Another bag of bull from this author.

Just to confirm that he is nutty, he continues to complain that a bank should continue to make loans to borrowers which have no capability to pay.  Just because a banker is foreclosing one client does not mean that they are not making a loan to someone else.

Karaio's picture

We have isolated some people .... (unfortunately they have money * and nuclear weapons).


* money, fiat, unusable paper money that only pays to stick and make confetti in the Carnival of Rio de Janeiro.

China is doing the same thing, dumps its scrap US $ in debilitated and purchase tangible products economies.

Slowly and steadily the US $ and Euros are coming home ...

Just do not see who does not want ...


Bangin7GramRocks's picture

Blah blah blah! Greece is going to default again. Erf de derf! You fucking dingleberries were sucked in again! What a bunch of saps! A gaggle of suckers! Ha Ha Ha 

mfields111's picture

That's right. Putin is doing nothing to stop the global liquidity squeeze because he has just guaranteed a Grexit it appears that he is helping Greece pay the western bankers but Greece has much more debt than this so when the next payment comes due to the bankers Putin makes Greece move further away from the euro such as a Russian naval base etc and then slowly he brings Greece into the Eurasian trade zone while still iin NATO. Then he offers the same deal to the other nations in debt to Europe including allowing them to use the yuan for buying energy.he becomes the friend to these countries ,brings them into the Eurasian trade zone while all the money here pays them comes right back in gas payments for Ukraine debt while the liquidity squeeze continues

GMadScientist's picture

You mention derivatives and then link to a graph about repos?!


"the massive operation was conducted to INJECT Treasury collateral into the global banking system.  Treasuries are used as collateral against derivatives positions.  It’s in a sense margin collateral for the big boys. "

Was that so hard? :)

Element's picture

ha, so you'd happily offer them a billion in credit would you?

Because it's so low risk of default, right?

Tyler is spot on.

The really amazing thing is Putin is swapping Ukraine for Greece. He apparently thinks this is a preferable financial arrangement and a more reliable transit state, less corrupt, less likely to siphon off free gas, and more likely to pay its bills.

On what grounds?


Arius.'s picture
Arius. (not verified) Element Apr 18, 2015 10:34 AM

"ha, so you'd happily offer them a billion in credit would you?"


yeap, sure thing ... if I can just type a few zeros in my fed computer ... isnt it how it works?