A preliminary agreement between Greece and Russia to extend the “Turkish Stream” natural gas pipeline through Greece was signed on Thursday, fueling speculation that the Russian side may funnel cash-strapped Athens with up to three billion euros as a “down payment” against future profits of the pipeline — assuming it’s constructed and comes into operation.

According to the relevant Russian minister, meanwhile, Moscow will fund the Greek portion of the pipeline via borrowing.

The announcement comes ahead of a meeting later in the day between visiting Greek PM Alexis Tsipras and Vladimir Putin in St. Petersburg, within the framework of the international economic forum in the Russian city.

This is the second time that both leaders will meet in the last three months. Also noteworthy is the fact that Tsipras is the honored guest of the forum, since he is the only European leader participating.

Putin, who is pivoting to the east and other emerging markets due to his government’s isolation in much of the west stemming from perceived Russian mischief in Ukraine, has been watching the developments concerning Greece closely, and recently stated that the Greeks should be the ones that decide on their future, and not institutional lenders — of which his country is not included.