Siluanov: Russia does not receive from Ukraine proposals on public debt

Siluanov: Russia does not receive from Ukraine proposals on public debt

Russia before December 31 will have to wait for possible proposals of Kiev on the settlement of debt, if they do, Russia will be forced to turn to the international court of justice, said Minister of Finance Anton Siluanov.

MOSCOW, 30 Dec. Russia receives from Ukraine proposals on the settlement of its debt obligations, said Finance Minister Anton Siluanov.

The Ukrainian Eurobonds purchased by Russia in the end of 2013 at the expense of the NWF, was repayable on December 20. The payment in Ukraine had to make in business day on 21 December, but the money wasn’t transferred. According to the bond prospectus, the formal default occurs upon expiry of grace period of 10 days, i.e. 31 December.

“We are really up to the 31st of the waiting that Ukraine will be in touch with us. We are such proposals for the settlement of debt not receive. After the 31st, if nothing else happens, we will go to international arbitration to protect our interests. As creditors we need that money for their projects, for the development of infrastructure projects”, — said Siluanov

According to him, the Russian Federation regrets that the Ukrainian colleagues have taken an unconstructive position. “The fact that the debtors typically go to the lender with the offer, to seek to settle its debt obligations. In Ukraine this was not all there was. The Russian Federation did, in our view, very comfortable for Ukraine, the sentence of installment debt for three years. We talked about the need to include these obligations in the IMF programme of support for Ukraine and guarantees,” — said the head of the Russian Finance.

“It seemed to me that this is very favorable and the proposal of the Ukrainian colleagues had to respond. But, nevertheless, we such a reaction not seen. On the contrary, this was followed by statements that Ukraine will not pay its debts. Unfortunately, this is a statement of Ukraine defaulting on sovereign obligations. It is essential, of course, will spoil their story as debtor, borrower, as even after the implementation of IMF programs, even after Ukraine, we will pay, — I have no doubt that it will be done, — nevertheless, as the history of the defaulting borrower from Ukraine is here to stay, and such decisions just do not go”, — said Siluanov.

Answering the question about how is it possible that the decision of the court as payment of the debt will be recovered Ukrainian assets, he said, “and It is the decision of the court should be such that will allow us to collect debts from those assets that we can entrust this responsibility. Will work…”.