Siluanov: Ministry of Finance expects a court decision on the Ukrainian debt for 2016

Siluanov: Ministry of Finance expects a court decision on the Ukrainian debt for 2016

MOSCOW, December 30. The arbitration decision on the issue of sovereign debt of Ukraine to Russia for $3 billion must be made within 2016.

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Such opinion in interview to TV channel “Russia 24” stated the Minister of Finance Anton Siluanov.

“I think that next year we should see the decision (of the court),” he said.

The Debt Of Ukraine

On 18 December, the Ukrainian government imposed a moratorium on the payment of the debt of the Russian Federation. Prime Minister of Ukraine Arseniy Yatsenyuk motivated by the fact that “Russia refused to sign the restructuring agreement” on a par with private creditors. Thus, Ukraine chose to avoid default on its debt obligations, rather than negotiate on the basis of a proposal made by the President of the Russian Federation during the meeting of leaders of the countries “Groups of twenty” in Antalya in November.

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Yatsenyuk: Ukraine has imposed a moratorium on the payment of a debt of Russia

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. Within the 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.

17 December 2015, the IMF Executive Board has recognized the status of Ukraine’s debt before Russia’s sovereign – this means that the obligation to pay the debt incurred by the government-borrower.

20 December, Ukraine has delayed the payment of the next payment on the debt. If Kiev fails to pay the amount due within the 10-day grace period on 31 December Russia will go to international court to recover these funds by force.

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A dispute about $3 billion: debt Kiev before Moscow in questions and answers