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Russia expects Ukraine to pay $75 mln on its $3 bln loan on June 22 — deputy minister

June 11, 2015, 18:12 UTC+3
Any missed payment from Ukraine on Russia’s $3 bln loan would mean default
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Russia's Deputy Finance Minister Sergey Storchak

Russia's Deputy Finance Minister Sergey Storchak

© ITAR-TASS/Sergey Karpov

MOSCOW, June 11. /TASS/. Russia expects Ukraine to pay $75 mln on its $3 bln loan on June 22, Deputy Finance Minister Sergey Storchak said in an interview with Rossyia1 TV channel on Thursday.

Any missed payment from Ukraine on Russia’s $3 bln loan would mean default, he said.

"The payment is likely to be made on June 22. Any failure to payment would mean defaulting. This development does not meet Ukraine’s interests. That is why I think that the payment will be transferred," - he said.

According to the deputy finance minister "the main way to interact with the Ukraine is the interaction at the site of the IMF."

There are certain rules and procedures that allow Russia to count on the IMF as its supporter in solving the issue, he said.

"It concerns Russia as a sovereign creditor," - Storchak said.

Earlier, Ukraine repeatedly said that it regards Russia’s loan to be commercial and insisted on its restructuring.

Russia insists that the loan it granted to Ukraine is public and wants Kiev to fully repay it in December 2015.

"The issues of bilateral relations regarding the principal debt payment are rather the issues of interaction between the governments rather than exclusively the authority of the Finance Ministry. Naturally, in the conditions we are in, amid shrinking revenues, lack of access to loan capital on foreign markets, we have to insist that the debtor should fully meet obligations to Russia,"- Storchak said.

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