Russia Rules Out Joining Talks on Ukraine's Debt Restructuring

Ukrainian President Petro Poroshenko said on Sunday that Russia under no circumstances would be given more favorable conditions for the restructuring of the loan to Ukraine.

MOSCOW (Sputnik) — Russia will not join negotiations on the restructuring of Ukraine's debt, Russian Finance Minister Anton Siluanov said Monday.

He added that Moscow expected sovereign debt to be paid in full and on time.

Russia holds $3-billion Ukrainian Eurobonds, due to mature by the end of 2015.

"Unlike commercial lenders that are currently in talks with the Ukrainian government, finance ministry, the debt to Russia is national, sovereign. There is a special procedure for settlement in sovereign debt cases. We will not enter into negotiations with the Ukrainian government on this matter. We have repeatedly stated this," Siluanov told reporters.

In August, Ukraine’s Finance Minister Natalie Jaresko announced that Kiev had reached an agreement with its private sector creditors to restructure $18 billion of its $70-billion debt and write down the face value of $3.6 billion worth of Ukrainian bonds.