Yatseniuk threatens the moratorium, if Russia will not go for debt restructuring

Yatseniuk threatens the moratorium, if Russia will not go for debt restructuring


Ukraine will impose a moratorium on the payment of three billion dollars of debt, if she will not agree to the restructuring, said Arseniy Yatsenyuk. Thus, Kiev risks to avoid default on Treasury bonds of Moscow, the maturity date of which occurs in December.

KYIV, 13 Nov. Ukraine will impose a moratorium on the payment of 3 billion dollars of debt, if Russia will not agree to the restructuring, said Prime Minister of Ukraine Arseniy Yatsenyuk.

“Unfortunately, we had an offer to negotiate on October 29, but Russia refused to negotiate. Now depends on Russia, if she wants to continue the negotiations. If Russia does not agree, the Cabinet will impose a moratorium on the payment of the Russian Federation 3 billion of debt,” — said Yatsenyuk at a press conference on Friday. He reiterated that Russia will not get better terms than other creditors.

Ukraine is currently conducting a restructuring of its external debt. Russia repeatedly declared that will not participate in the restructuring as the debt of Ukraine at $ 3 billion is public and not commercial.

So Ukraine risks to avoid default on Treasury bonds by Russia at $ 3 billion, the maturity date of which occurs in December. Default on sovereign obligations may result in blocking the next tranche of financial assistance by the IMF to Ukraine.