The Finance ministries of Russia and Ukraine have agreed on restructuring the debt of Kiev for $3 billion

LIMA, October 10. The Finance ministries of Russia and Ukraine have not agreed during the meeting on 10 October on the restructuring of the debt of Kiev for $3 billion, and they agreed to maintain a dialogue. This was reported to journalists by the Minister of Finance of the Russian Federation Anton Siluanov.

“We have expressed position on the need for repayment of the debt of the Russian Federation. Colleagues from the Ministry of Finance of Ukraine said that they had no such money in the budget and invited us to participate in the restructuring along with commercial creditors. What Russia’s position was the opposite: we are not a commercial lender, we are sovereign, so for us, these conditions are unacceptable,” – said Siluanov.

Russia expects full repayment by Ukraine in December, Siluanov said. In turn, the Minister of Finance of Ukraine Natalie Jaresko said that Ukraine is not committed to provide Russia more favorable conditions for repayment of Eurobonds worth $3 billion, than those that were developed with a group of private lenders.

In December 2013, the presidents of Russia and Ukraine Vladimir Putin and Victor Yanukovych have agreed that Russia will give Ukraine a loan of $15 billion through the placement of Ukrainian securities. Under this program, bonds for $3 billion were placed on the Irish stock exchange on 20 December 2013 and bought by Russia at the expense of the national welfare Fund.

The last coupon payment on the loan of the Russian Federation were made by Ukraine in June of this year. Now Russia expects full repayment of the loan to $3 billion in December.