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Russian Finance Ministry does not participate in Ukraine's private creditors meeting

October 28, 2015, 20:59 UTC+3 MOSCOW
If Kiev's debt is not repaid in December, appropriate legal action will be taken to protect the interests of the Russian Federation as a creditor, minister Anton Siluanov warns
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Russian Finance Minister Anton Siluanov

Russian Finance Minister Anton Siluanov

© Anna Isakova/Russian State Duma press service/TASS Archive

MOSCOW, October 29. /TASS/. Russia’s Finance Ministry is not taking part in the meetings of private creditors on restructuring Ukraine’s debt which are held by Kiev, Finance Minister Anton Siluanov said on Wednesday.

"Ukraine's debt to Russia, which is due to be paid in December, cannot be equated with debts to private creditors, the debt has a different status, which is official. Therefore, we do not participate in the meetings of private creditors of Ukraine," he said.

Siluanov said that "the Ukrainian authorities had been repeatedly informed by the Russian side that Russia expects debt payment in full and on time".

According to him, if Kiev fails to pay $ 3 billion, Moscow would go to court.

"If in December, the debt is not repaid, appropriate legal action will be taken to protect the interests of the Russian Federation as a creditor," the minister said.

Earlier, Ukraine’s Prime Minister Arseniy Yatsenyuk said in an interview with the German newspaper Handelsblatt that Ukraine would not pay its public debt to Russia if Moscow does not agree to restructure it. In this case, Kiev would announce a moratorium on debt payments, he said.

In December 2013, the presidents of Russia and Ukraine, Vladimir Putin and Viktor Yanukovych agreed that Moscow would grant Kiev a credit worth $ 15 billion through the placement of Ukrainian securities. Under this program bonds for 3 billion dollars were placed on the Irish Stock Exchange on December 20, 2013. Russia purchased the bonds using the funds from its National Welfare Fund.

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