MOSCOW, December 19. The announcement by Ukraine of a moratorium does not negate its obligations to pay a debt. This was stated to journalists by the Minister of Finance of the Russian Federation Anton Siluanov, commenting on yesterday’s decision of Kiev on the moratorium on debt repayment to Russia.
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“The period of performance of obligations on repayment of $3 billion and the payment of the coupon is coming on December 20, and Sunday, respectively the payment shall be made on the next working day – i.e. Monday, December 21. The moratorium does not affect the obligations of Ukraine to repay the debt. Obligations remain in force, and the Russian Federation expects that they will be executed in full”, – said the Minister.
According to him, Russia will be able to go to court after 31 December. “The IMF has confirmed that the debt is official, but Ukraine did not make any proposals that would be based on the recognition of the official status of the debt. If Ukraine does not pay the amount due within the grace period up to 31 December, the Russian Federation will go to court to collect the money forcibly,” he said.
Yesterday the Cabinet of Ministers of Ukraine introduced a moratorium on the payment of Russian debt. The Ukrainian government also imposed a moratorium on the payment of 507 million dollars that two Ukrainian companies to Russian banks, including Sberbank.
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. Under this 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. On 17 December, the IMF confirmed that the debt of Ukraine to Russia is official. 20 December, Kiev was supposed to fully repay the loan before Moscow, if he do not, within 10 days after the onset of this period, Russia will go to court.
Default instead of negotiations
Russia regrets that Ukraine chose the default of the negotiations, said Siluanov.
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“Russia takes note of yesterday’s decision of Kiev to declare a moratorium on the repayment of the debt to the Russian Federation. Sorry that Ukraine has decided to default instead to negotiate the essence of the proposals announced by the President of Russia on the “G20 summit” in Antalya in November this year,” he said.
Vladimir Putin at the G20 summit in Turkey reported that Moscow offered to the over payment on the debt of Ukraine for the years 2016-2018 $1 billion a year. The head of state stressed that Russia does not agree to restructure the Ukrainian debt, and offered the best conditions, as requested by the IMF.
Siluanov also stressed that the announcement by Ukraine of a moratorium does not negate its obligations to pay a debt.
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