The Finance Ministry has called “non-serious” proposal of Kiev on debt of $3 billion


The Finance Ministry did not consider seriously the proposals of Ukraine on restructuring the debt at $3 billion it has received through the intermediary — the Ministry of Finance of Germany. About it as transfers “Interfax”, said assistant Minister Svetlana Nikitina.

Nikitin not told exactly what the parameters of this proposal do not suit the Russian side, however, noted that the proposed conditions are worse than those who received trade creditors of Ukraine.

Ukraine was supposed to repay $3 billion in December 2015, but defaulted on it. Kiev proposed Moscow debt restructuring with commercial creditors terms, however, Russia this option to discuss refused, insisting on the sovereign nature of the debt. Then the Minister of Finance of Ukraine Natalie Jaresko expressed the hope that the issue of the debt to Russia will be solved in an extrajudicial manner.

1 January, the Russian Finance Ministry announced that Ukraine had not paid $3 billion and the interest on $75 million on Eurobonds and announced the beginning of judicial procedures. However, on 5 February, the Russian Finance Minister Anton Siluanov said that Russia has not filed a lawsuit against Ukraine. He said earlier that the lawsuit will be filed before the end of January. “With the Trustee (intermediary between the Issuer and the bondholder. —) the negotiations are, they are a little bit delayed”, — explained the delay by the Minister.

That a mediator between the Finance Ministers of Russia and Ukraine will perform the German Ministry of Finance Yaresko announced back in December, but still was not aware of any proposals to Russia through Berlin.

Kiev has repeatedly called the loan a “political” and even “bribe Yanukovych”, legally securing their right not to pay him on time. For the 2014-15 years, the company continued to negotiate with commercial creditors, whereby the parties reached agreement on the restructuring. Russia has refused to join this process, considering the debt of the sovereign and not commercial.

In the restructuring agreement it was specifically stated that Ukraine has no right to grant to others, not involved in the negotiations, the borrowers, the conditions are better than they have signed.