Ukraine expects to continue dialogue with Russia on «duty of Yanukovych». The Russians are also ready to talk

The Minister of Finance of Ukraine Natalia Jaresko expects to continue negotiations with the Russian side about released in December 2013 Eurobonds for $ 3 billion, the maturity of which came on 20 December 2015, early 2016. She said this at a press conference in Kyiv on Wednesday, reports «Interfax-Ukraine».

«I expect that in January, the dialogue will continue after the holidays,» said the Finance Minister.

In turn, Russia is ready to discuss the proposals of Ukraine on the debt, despite the start of the trial, said the Minister of Finance Anton Siluanov in interview to TV channel «Russia 24».

Ukraine has not fulfilled the deadline (December 20) your obligations to repay us $ 3 billion debt and pay the coupon for $ 75 million. If a country fails to pay the amount due within the grace period up to 31 December, the Russian Federation intends to apply to the court to recover these funds by force.

«After 31 December we refer, as provided in the prospectus in the case of non-repayment of the debt to arbitration. This arbitration will be English law», — said Siluanov.

«We regard as very high chances of winning the arbitration, Yes, of course, it may take time. But how long will that take time, it is difficult to say… We will be seeking a full refund debt that Ukraine has to Russia,» he added.

«If during this period the Ukrainian colleagues will change their position and will return to the discussion of the repayment of its debt, we will be ready to consider the proposals and being in litigation with the Ukrainian side», — said the Minister.

We will remind, on may 19 the Verkhovna Rada of Ukraine gave the right to the Cabinet to impose a moratorium on payments of foreign debts.

Ukraine and the Committee of creditors on August 27, reached agreement on the restructuring of the state debt total volume of 18 billion dollars, which involves a complete write-off 3 billion dollars, deferral of payments on principal in the amount of 8.5 billion USD. for 4 years, and fixed coupon rate on all the bonds at 7.75% per annum.

In the perimeter of the restructuring included the loan received by Ukraine within the framework of agreements between Russian President Vladimir Putin and the then Ukrainian President Viktor Yanukovych in December 2013. The loan was issued through redemption of Eurobonds of Ukraine at $ 3 billion through the Irish stock exchange, that equates to commercial, but the Russian side insists that this is an interstate loan because the purchaser of the bonds was a Russian state Fund.

On 14 October, the majority of creditors approved the proposal of Ukraine the terms of the exchange bonds and accepted the terms of the exchange bonds for new securities with maturities ranging from 2019.

The Russian side did not accept the conditions of Ukraine and did not put forward their proposals to resolve the debt issue.

On 8 December the international monetary Fund softened its demands in its policy of lending to countries with debt problems, including on sovereign debt. The decision of the IMF will allow Ukraine to continue cooperation with him, even when repaying loans, including the Russian debt.

On 16 December, the IMF Executive Board has recognized the official status of the Russian loan Ukraine $ 3 billion.

On December 18 Ukraine declared a moratorium on payments of debts to Russia.

Ukraine expects to continue dialogue with Russia on «duty of Yanukovych». The Russians are also ready to talk 30.12.2015

Декабрь 30th, 2015 by
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