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Russia will go to court if Ukraine does not pay the debt

Russia has no other choice but to file to the court if Ukraine does not fully meet its obligations and do not pay the debt on December 20, 2015
Russia will go to court if Ukraine does not pay the debt

Russia has no other choice but to file to the court if Ukraine does not fully meet its obligations and do not pay the debt on December 20, the Russian Ministry of Finance said in a statement, released on Saturday, Joinfo.ua reports with the reference to Interfax-Ukraine.

“Although there is no formal appeal to the Government of Ukraine on the restructuring of sovereign debt by $3 billion, Russia itself has made a bid to postpone and restructure Ukrainian debt for 3 years (2016-2018) under the guarantees of the US, EU or international first-class financial institution” – said in the statement.

“We proposed conditions even better than those of the International Monetary Fund. This week we have received a formal rejection of the U.S. government to guarantee the obligations of Ukraine. In this connection, we have no choice but to sue Ukraine in case if it fails to meet their obligations in full on December 20 this year, which means a sovereign default of Ukraine “, – stated the Ministry.

The Finance Ministry noted that “in addition, currently there are risks for Ukraine to not receive the next tranche from the IMF, because it has not yet approved budget for 2016 that would meet requirements of the program due to lack of agreed draft of tax reform, as well as the necessary structural measures “.