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Moscow to sue Kiev in case it fails to repay $3 bln Eurobond on time — minister

September 07, 2015, 19:06 UTC+3 BRUSSELS
"There can be no other scenario," says Russia's Economic Development Minister Alexey Ulyukayev
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© ITAR-TASS/Maxim Nikitin

BRUSSELS, September 7. /TASS/. Russia will turn to a court of law if Ukraine fails to repay its $3 billion Eurobond on time, Economic Development Minister Alexey Ulyukayev said on Monday.

"We insist [on the repayment on schedule,]" the minister said. "This is a sovereign obligation," he added.

When asked about whether Russia would apply to a court of law, if Ukraine refused to pay on time, Ulyukayev said: "Yes, surely. There can be no other scenario."

The Russian economy minister said he had not discussed the debt issue at a meeting with his Ukrainian counterpart on Monday.

Russia made a decision in late 2013 to invest up to $15 billion in Ukraine’s sovereign Eurobonds. Soon afterwards, Russia bought Ukraine’s first Eurobond tranche worth $3 billion with a two-year maturity and a coupon rate of 5% per annum and coupon payments every six months.

Russia subsequently decided against investing the other $12 billion in Ukraine’s bonds after a change of power in the ex-Soviet republic.

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