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    Ukraine Misses Deadline on $3Bln Debt Payment to Russia

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    Crisis in Ukraine (116)
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    Ukraine has defaulted on repayment of a $3 billion sovereign debt to Russia by missing the Monday deadline, but still has a grace period until December 31 to fulfill its obligations, the Russian Finance Ministry said.

    MOSCOW (Sputnik) — According to the statement, the ministry is still expecting Kiev to fulfill in full its debt obligations until the expiration of the grace period.

    "Ukraine failed today to make a payment on sovereign bonds worth $3 billion, purchased by Russia," the ministry said in a statement.

    "Formally, the default will become legally effective if Ukraine fails to repay the debt until the end of the so-called grace period, which expires on December 31," the statement said.

    Crisis in Ukraine (116)
    debt, Russian Finance Ministry, Russia, Ukraine
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