Russia expects Ukrainian proposals on the debt subject to the decision of the IMF

Moscow. December 17. Russia expects from Ukraine proposals on the settlement of debt of $3 billion based on confirmation of the International monetary Fund of its status as official, told journalists the Minister of Finance of the Russian Federation Anton Siluanov. According to him, the decision by the IMF will strengthen the position of Russia, if the case goes to court.

“On 20 December, the date of payment by Ukraine on its debts. Debts need to pay. We expect Ukraine proposals based on the decision of the IMF, are ready to consider them, remained for three days, so we have a plan of action. In the case of non-payment by Ukraine of its obligations, Ukraine’s default on debts already confirmed as an interstate, we will take measures to protect their interests in the courts,” he said.

“And if the case goes to court, of course, the inclusion of Ukraine to the Russian debt to the list of commercial creditors and the IMF’s official recognition of the status of this debt may be the basis for improving the position of the Russian Federation in court”, – stressed the Minister.

Siluanov said that Ukraine, negotiating with commercial creditors included in the list of creditors on the restructuring on the terms that were developed for commercial creditors, the debt to the Russian Federation. “This is contrary to the common practice of restructuring and settlement of debts to sovereign States. Today we have all grounds to say that to put duty to the state and the duty to creditors is completely unacceptable”, he said.

Siluanov reminded that Russia has submitted its proposals for the debt restructuring which differ from conditions offered to commercial creditors. “It is now clear that the difference is determined and a different status, which was confirmed by the IMF,” he said.