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Russia against including Ukraine’s $3bln Eurobond debt into restructuring schemes

February 25, 2014, 19:47 UTC+3 MOSCOW
Deputy Finance Minister Sergei Storchak said Russia will not declare a default on Ukraine’s debts
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Russian Deputy Finance Minister Sergei Storchak

Russian Deputy Finance Minister Sergei Storchak

© ITAR-TASS/Sergei Karpov

MOSCOW, February 25. /ITAR-TASS/. Russia objects against including Ukraine’s $3 billion Eurobond debt into any multilateral debt restructuring scheme in case of the issuer default, Russian Deputy Finance Minister Sergei Storchak told journalists on Tuesday.

“In any case, we will be against including Ukraine’s bond debts [in case of the issuer default] into any multilateral restructuring schemes. It would be unfair,” he said.

If it comes to such decisions, the sides will agree on it at a bilateral level, he noted. “I think our bond claims will be outside the overall package. We shall see to it that these funds are not included into the overall loan body,” he said.

Russia will not declare a default on Ukraine’s debts, Storchak added.

“We shall see who is going to declare this default,” he said. “Naturally, we are not going to do that, it is very important for the debtor. We hope that in its credit relations with the Russian Federation, the borrower will always bear in mind that it must do its best to maintain a high level of its credit history."

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