
Russia has no other choice but to sue Ukraine if Kyiv does not pay a debt of $ 3 billion until December 20. This is stated in a statement by the Russian Ministry of Finance, reports TASS.
"Russia itself made an offer to install for the repayment of Ukrainian debt for three years (2016-2018) under the guarantees of the United States, the EU or the first -class international financial institution," the statement says. The Ministry of Finance emphasizes that Russia proposed to Ukraine "conditions even better than the international foreign exchange fund asked."
“This week we received an official abandonment of the US government to provide guarantees for the obligations of Ukraine. In this regard, we have no choice but to sue Ukraine in case the borrower fails to fully fulfill our obligations on December 20 of the current year, which will mean the sovereign default of Ukraine,” the Ministry of Finance said.
The Ministry of Finance also notes that Ukraine risks not getting the next tranche from the IMF, since the country's budget for 2016 has not yet been adopted, which would correspond to the parameters of the fund program. In addition, the country does not have a agreed tax reform project.
In December 2013, when Viktor Yanukovych was in power in Ukraine, Russia redeemed Ukrainian Eurobonds for $ 3 billion. In June of this year, President of Ukraine Petro Poroshenko called this loan "bribe" to Yanukovych for the abandonment of European integration.
In August, Ukraine and the Committee of the largest private creditors agreed to write off 20 percent of the debt on state bonds. The main amount of the debt is 18 billion dollars of the nominal value of bonds. In addition, the agreement provides for the extension of the time for the repayment of papers for four years and fixing the return rate on the bonds that fall under restructuring 7.75 percent.
Ukraine asked Russia to agree to the same conditions for writing off the debt as the rest of the creditors. However, the Russian Minister of Finance Anton Siluanov said that Moscow would not participate in restructuring.
On November 16, Vladimir Putin said that Russia agreed to restructure the debt of Ukraine for three years and agreed to discuss the details of this proposal with partners in the near future. "We did not just agree with the restructuring of Ukrainian debt, we offered the best conditions for this restructuring than the IMF asked us. We were asked to transfer this payment for the next year. I said that we are ready to go to a deeper restructuring: we are ready to go to receive any money at all, and next year to get a billion, in the 17th, another billion and 18th and 18. “Another billion,” Putin said.
On November 20, Ukrainian Prime Minister Arseniy Yatsenyuk said that Kiev would not pay Russia 3 billion dollars of debt. According to him, the Russian side will also not receive other conditions of restructuring. “The basic condition is a reduction in the debt by 20 percent, the transfer of all debts by four years,” Yatsenyuk said. “You don’t want to, then you will receive a decision of the Ukrainian government to introduce $ 3 billion to the payment of Russia. I just want to explain to our neighbors and the aggressor: we will not pay $ 3 billion.”