Lafazanis and his Russian counterpart Alexander Novak signed a Memorandum on construction of the extension of the Turkish Stream gas pipeline through Greece. The MoU on the 2-billion-euro project was signed 19. June 2015. That was ten days before the European Central Bank forced the government to close the banks and impose capital controls.

Greece’s European partners and the U.S.A. had strongly opposed Greece’s involvement in the Russian project.