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Ukraine's president says Kiev prepared to face Moscow in court over $3 bln debt

January 14, 20:42 UTC+3 KIEV
Poroshenko also made clear Kiev's readiness for talks on the debt
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Petro Poroshenko

Petro Poroshenko

© Mikhail Markiv/Ukrainian president's press service/TASS

KIEV, January 14. /TASS/. Ukraine is prepared to defend itself in the courtroom if Russia files a lawsuit regarding the Kiev government's outstanding debt of $3 billion on eurobonds, President Petro Poroshenko said at a news conference on Thursday.

"If the Russian side threatens us with a court trial, we're prepared then to defend Ukrainian interests in the courtroom," he said.

Along with it, Poroshenko made clear Kiev's readiness for talks on the debt.

"If the Russian side finds it possible to begin the talks immediately, it stands to reason to recall then our finance minister has said twice Ukraine is ready for the talks on rescheduling the debt and delays are caused by Russia in this case," he said.

Along with it, Poroshenko said Russia's reciprocal proposal on including other countries in the process as guarantors of the debt was tantamount to an infraction on the conditions of restructuring. "Inclusion of other countries in the pattern as guarantors and debt guarantees as such mean a violation of the rescheduling conditions," he said.

Russian President Vladimir Putin and Ukrainian President Viktor Yanukovych reached agreement in December 2013 on Moscow's loan to Kiev in the amount of $15 billion through the floating of Ukrainian securities. As part of the programme for emissions, the bonds worth $ 3 billion were floated on the Irish Stock Exchange on December 13, 2013, and were bought out by Russia.

On December 20, 2015, Ukraine failed to pay the debt off and the Russian Finance Ministry initiated an international court litigation in the wake of the failure.

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