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Russia to turn to court if Ukraine fails to pay debt in Dec. — finance minister

October 10, 2015, 3:18 UTC+3 MOSCOW
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MOSCOW, October 10. /TASS/. Russia plans to go to court if Ukraine fails to repay its $3 billion debt by the end of the year, Finance Minister Anton Siluanov has told the Rossiya-24 TV channel.

"In case the Ukrainian side does not pay the debt owed to us, in fact this will be the default of Ukraine. We will turn to judicial instances as envisaged by the terms for Ukraine’s eurobonds in which we invested state funds. That’s why we will seek Ukraine’s implementation of obligations in late this year," Siluanov said.

Siluanov earlier said he was against restructuring Ukraine’s debt. "We believe that sovereign debts should be paid in full in due timeframe. We invested $3 billion from the National Wealth Fund that should be returned to Russia in late this year," he stressed.

Russia needs these funds to implement infrastructure projects, the minister said. "Especially in current conditions when the access of Russian companies to international financial markets has been limited," he said.

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