Russia completed early repayment of more than a third of its debt to the Paris Club group of Western creditor countries, a finance ministry official said.

A 2.3-billion-dollar (1.9-billion-euro) payment was made Friday and Monday -- the final part of a 15-billion-dollar early repayment that began last month to 16 of the Paris Club's 19 member countries, the official said.

The 15-billion-dollar tranche was part of an overall debt to the Paris Club countries that on January 1 equalled 43.1 billion dollars, according to the finance ministry. The balance of the debt is due to be repaid in 2020.

Last October, Russian President     Vladimir Putin said that Russia was ready to make early payment of debt to the Paris Club, mainly due to the rise of the price of oil.

Russia is a leading exporter of oil and when prices are high its foreign earnings rise.

Russian Finance Minister Alexi Kudrin said in May that the advance reimbursement would save Russia six billion dollars' worth of interest payments and 400 million dollars from the 2005 budget.