Putin orders Finance Ministry to sue Ukraine over unpaid $3bn debt


Translated by Ollie Richardson for Fort Russ

9th December, 2015


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Vladimir Putin instructed his Cabinet of Ministers to sue Ukraine if it does not repay the debt to Russia of three billion dollars.

“For four years it would be possible to participate in sharing these risks somehow. To even me it is unclear. Well, well, file a lawsuit then”, – said Vladimir Putin at a meeting with members of the government after the report of the Ministry of Finance of the Russian Federation Anton Siluanov on the situation with the Ukrainian debt.

The maturity of the Ukrainian Eurobonds purchased by Russia in late 2013 will come in December 2015. Earlier, Russia expressed its willingness to restructure the debt, allowing Ukraine to repay one billion in 2016-2018, subject to the provision of guarantees for it from the authorities of the United States or the EU, or one of the international financial institutions.

However, the United States refused to provide such guarantees, and the IMF Board of Directors on Tuesday the 8th of December approved a reform, allowing it to lend to debtors in case of default on sovereign debt. This will allow Ukraine to get the support of the Foundation even in the event of non-payment of debt to Russia.

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