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Russia’s position on Ukraine’s $3 bln debt unchanged — Finance Ministry

October 15, 2015, 14:58 UTC+3 MOSCOW
Ukraine’s $3 billion bonds bought by Russia in December 2013 using its National Welfare sovereign fund are not subject to restructuring, Assistant to the Russian Finance Minister says
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© EPA/TASS/ROMAN PILIPEY

MOSCOW, October 15. /TASS/. Russia’s position on Ukraine’s $3 billion debt remains unchanged and Moscow expects Kiev to repay the loan in full in December this year, Assistant to the Finance Minister Svetlana Nikitina told TASS on Thursday.

"Russia’s position has not changed. [Finance Minister] Anton Siluanov outlined it on many occasions, including at the talks with the finance minister of the Ukrainian government [Natalia Yaresko]. Ukraine’s $3 billion bonds bought by Russia in December 2013 using its National Welfare sovereign fund are not subject to restructuring as compared with commercial debts," she said.

Russia insists that Ukraine’s debt to Moscow represents Kiev’s sovereign liabilities and a decision on spending money from the National Welfare Fund on the bonds’ acquisition was made by the Russian government and the debt was not re-assigned.

"Also, the funds were provided on non-market terms. Let me remind you that the bonds carry a coupon of 5% while the Ukrainian Eurobonds’ yields totaled about 9-10% in December 2013," Nikitina said.

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