PARIS, June 5: The Paris Club of creditor nations have agreed to reschedule Russia's official foreign debt, covering seven billion dollars due this year, the French Economics Ministry said, reports AP

The amount has been rescheduled over 15 years, including a 3-year grace period, said creditor sources speaking on anonymity Saturday. The rescheduling follows Russia's accord with the International Monetary Fund in April.

Russia had a total of 29 billion dollars of debt coming due in 1994 prior to the official rescheduling. About one-third of that represents arrears on debt due previously, while the rest represents debt coming due in 1994. It also includes commercial bank debt.

Wlille the sources wouldn't say what portion of the 29 billion dollars represented official debt. Russian officials previously said the figure is about 10-12 billion dollars.

Sources said the negotiations. which lasted nearly 48 hours, took place in a "good if difficult atmosphere."

As opposed to a rescheduling agreement signed last year with Russia, they said the lat- est accord emphasized a consistent payment pattern over the duration of the rescheduling

That is why a J5-year term was granted, as opposed to the 10-year term in last year's accord; The previous accord rescheduled some 15 billion dollars of debt that came due in 1992 and 1993.

Sources stressed that the future of the rescheduling accord is closely linked to Russia's fulfilment of the terms of its pact with the IMF. signed in April, which released .a 1.5 billion dollars loan from the IMF systemic transformation facility.

That represented the second tranche of a loan granted in June 1993. which was stalled by Russia's inability to meet IMF objectives.

Official creditors met with Russia this week under the auspices of the Paris Club, an . informal group which meets about once a month to consider rescheduling requests from debtor countries.

Generally, a Paris Club accord clears the way for a rescheduling by commercial banks on similar terms.