The Finance Ministry expects to collect from Ukraine the whole amount of the debt and court costs

The Finance Ministry expects to collect from Ukraine the whole amount of the debt and court costs


MOSCOW, January 22. The Finance Ministry expects to collect from Ukraine the whole amount of debt by $3 billion and legal fees. This was reported to journalists by the Minister of Finance of the Russian Federation Anton Siluanov.

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“At present preparatory work for filing the claim to Ukraine. We are confident that we will be able to recover from the debtor the full amount of the debt for Eurobonds, as well as the costs associated with the filing of a lawsuit,” he said.

The Finance Ministry expects the recognition of the official status of Kyiv’s debt to Russia and expects conditions better than earlier, Ukraine provided to private creditors.

“The Ministry of Finance of Russia confirms its readiness to complete good faith negotiations with the debtor. The success of such negotiations should be the readiness of the Ukrainian side to recognize the official status of the debt and to offer better conditions than were offered to commercial creditors”, – said the Minister.

The negotiations, according to Siluanov, still not started because of the uncompromising position of Ukraine.

Ukraine’s Position

The Minister reminded that Ukraine continues to insist that the bonds purchased by the Russian Federation, are not official duty, despite the fact that the international monetary Fund has recognized it as such.

“According to established international practice, the official credit of the Russian Federation should not be included in the recent debt restructuring to private creditors, and the Russian Federation were to be offered better terms than commercial lenders,” explained the Minister.

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.