Russian Debt Payment on Hold Until Restructuring or Court Settlement - Kiev

© AFP 2022 / EMMANUEL DUNANDUkrainian Finance Minister Natalie Jaresko
Ukrainian Finance Minister Natalie Jaresko - Sputnik International
Ukrainian Finance Minister said that moratorium on the payment of sovereign debt to Russia will be in force until the issue is settled in court or the debt is restructured.

Finance Minister Natalia Yaresko (L) and Ukrainian Prime Minister Arseny Yatsenyk (R) prepare to present the draft of the new state budget during the parliament hearing in Kiev on December 17, 2015 - Sputnik International
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MOSCOW (Sputnik) Ukraine's moratorium on the payment of sovereign debt to Russia will be in force until the issue is settled in court or the debt is restructured, Ukrainian Finance Minister Natalie Jaresko said Friday.

"Until the issue is settled. Either in court or not in court, meaning restructuring," Jaresko told Ukraine's Delo newspaper, answering a question on how long the moratorium would last.

Ukraine owes Russia $3 billion in Eurobonds. The debt was secured in 2013 by the government of then-President Viktor Yanukovych. Moscow has repeatedly stated that Kiev's inability to pay back the debt by December 20 will mean a default.

Ukraine missed the deadline, and the Russian Finance Ministry announced that Ukraine had defaulted and that it was still expecting Kiev to fulfill in full its debt obligations until the expiration of the grace period on December 31.

Last week, Ukrainian Prime Minister Arseniy Yatsenyuk said Kiev had introduced a moratorium on the repayment of Ukraine's $3-billion loan to Russia.

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