Russia Demands Ukraine to Pay $3Bln Debt And Interest Since End of December

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Money - Sputnik International
Russian lawsuit against Ukraine requires Kiev in addition to the Eurobond's $3-billion principal and unpaid $75-million December 2015 coupon to pay interest beginning from December 20, 2015 - the bond's maturity date, the Russian Finance Ministry said in a statement on Wednesday.

MOSCOW (Sputnik) — Kiev owes Russia $3 billion in Eurobonds. The debt was secured by the government of then-President Viktor Yanukovych in late 2013. Moscow has repeatedly stated that Ukraine's failure to pay back the debt by the December 20 deadline should be classified as a default.

“In its lawsuit the Russian Federation demands that Ukraine pay the principal of the Eurobond in the amount of US$3 billion, the unpaid December 2015 coupon in the amount of US$75 million, and the interest beginning from December 20, 2015, in addition to the Russian Federation’s costs in bringing the enforcement action,” the statement reads.

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The ministry added that it will be represented in the legal proceeding in the English High Court by the international law firm Cleary Gottlieb Steen & Hamilton LLP.

Last week, the Russian Finance Ministry said it had received a letter from the German Finance Ministry outlining a possible solution to the Ukrainian debt issue. Russian Prime Minister Dmitry Medvedev said later that Kiev’s proposals for the settlement of its $3-billion debt to Russia sent via Berlin were unacceptable.

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