Sands reaffirmed the default for Ukraine in case of non-payment on the debt of the Russian Federation


Moscow. November 13. The failure of Kiev to pay $3 billion Russia would mean Ukraine’s default, because the debt was sovereign, told journalists on Friday the President’s press Secretary Dmitry Peskov.

“We’re talking about sovereign debt, of course, his failure to pay would mean default situation”, – said the press Secretary of the President.

Earlier media reported with reference to Minister of Finance of Ukraine Natalia Yaresko that Russia may declare the default of Ukraine, if the latter makes payment for the bonds by $3 billion.

Russia and Ukraine argue about the nature of this debt incurred in December of 2013 – then, shortly before the change of power in Kiev, Russia at the expense of the national welfare Fund bought Ukrainian Eurobonds for $3 billion.

Ukraine has proposed a restructuring of this issue in General terms with the holders of commercial debt, however, Russia insists that it is sovereign debt, and expects full repayment in December, otherwise promising judicial process.