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Russia does not hold talks with Ukraine on $3 bln debt — finance minister

At the same time, Russia is ready to consider any proposals from the Ukrainian side, the minister has noted

MOSCOW, December 28. /TASS/. Russia is ready to consider any proposals on exchanging the $3 bln debt of Ukraine for other securities but no negotiations are currently held with Ukraine, Finance Minister Anton Siluanov said on Thursday on the air with Rossiya 1 TV Channel.

"Legal proceedings will most probably continue. We are ready to consider any proposals if we find and negotiate a proposal on early sale of this debt or its exchange for other securities," the minister said.

"No negotiations are held with Ukraine for the time being," Siluanov note.

Russia bought Ukrainian Eurobonds worth $3 bln in December 2013 at the expense of resources from the National Wealth Fund. Ukraine defaulted on Eurobonds in December 2015. Russia approached the High Court of London with a request to recover the debt from Ukraine in February 2016 after numerous attempts to settle the matter out of court.

On May 29, 2017, London’s High Court rejected all of the objections by Ukraine under Russia’s lawsuit. The court thus upheld Russia’s position on the case’s expedited hearing.

On June 23, Ukraine’s finance ministry filed an appeal to the London Court in the Eurobond case of $3 bln debt to Russia. The appeal hearing is scheduled to January 2018.

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