"Ukraine has not made the payment of $3.075 billion in repayment and servicing of external bonds owned by Russia during the grace period, which expired on December 31, 2015. Thus, Ukraine is in a state of default now," the ministry said in a statement.
The Finance Ministry also said that Moscow is ready to examine any significant offer from Ukraine on its debt to Russia, the legal action does not exclude the possibility of the debt settlement.
"Russia has always been willing to consider options to assist Ukraine in line with the IMF [International Monetary Fund] program. Russia intends to carefully examine any significant offer from Ukraine, but also believes that the court proceedings do not preclude a constructive dialogue in order to reach an acceptable settlement of the debt," the statement read.
The Ministry noted that Kiev has not made any proposals to Moscow on its $3-billion debt to Russia restructuring.
"Ukraine has not made any proposals arising from the bonds as the official loan," the ministry said in a statement Thursday.