Siluanov: Russia considers unacceptable the terms of Kiev’s debt of $3 billion


ANTALYA, November 15. Russia was ready to consider talks on the issue of Ukrainian debt to Russia in three billion dollars, if Kiev took the initiative, proposing proper conditions.

This was stated to journalists by the Minister of Finance of the Russian Federation Anton Siluanov, answering the question of whether discussion of the issue until expiry of the maturity of the loan in December.

“If there are initiatives from the Ukrainian side under the terms of the negotiations will consider”, – said the head of the Ministry of Finance of the Russian Federation. In his words, Ukraine has exposed Russia all the conditions that were to commercial creditors. “Under such conditions, of course, unacceptable conduct negotiations”, – concluded Siluanov.

He recalled that the topic of the Ukrainian debt is planned to discuss the Russian side on the fields of “twenty”, including with the leadership of the International monetary Fund.

Background

In December 2013, the presidents of Russia and Ukraine Vladimir Putin and Victor Yanukovych have agreed that Moscow will give Kiev 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.

After Kiev agreed with creditors to restructure its debts, with the exception of Russia, Finance Minister Anton Siluanov has repeatedly said that Moscow is ready to turn to international arbitration courts, as well as directly to the international monetary Fund in December if Ukraine fails to pay its debt. The last coupon payment on the loan were made by Ukraine in June 2015. Now Russia expects full repayment of the loan in December.

However, October 15, Yatsenyuk said that Ukraine is ready to sue Russia over debt-restructuring. Kiev offered Moscow until October 29 to review the conditions of the Ukrainian party debt restructuring and partial forgiveness, which were previously proposed by the ad hoc Committee of creditors.