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Ukraine imposes a moratorium on the payment of Russian $3 billion debt

The Cabinet of Ukraine has confirmed its decision to impose a moratorium on the payment of Russian debt in the amount of $ 3 billion
Ukraine imposes a moratorium on the payment of Russian $3 billion debt

Ukrainian PM Arseniy Yatsenyuk, at the meeting of the Cabinet of Ukraine on Wednesday, confirmed the decision to impose a moratorium on the payment of debt to the Russian Federation in the amount of $ 3 billion, taken by the government of Yanukovych in 2013, and in December 2015 recognized as the official debt of Ukraine, Joinfo.ua reports with reference to UNIAN.

“We stopped the military aggression of Russia, and now we are going to stop economic, financial and diplomatic aggression. The government decided on a moratorium on the $3 billion. It was nothing more than a Kremlin’s bribe to the former Ukrainian president Viktor Yanukovych for failure to sign the free trade area Agreement with the EU,” – said Yatsenyuk. – “The government imposed a moratorium on the payment of $3 billion, and this is due to the fact that Russia refused to restructure this debt. The Kremlin will only can receive the same conditions as the other creditors did.

Therefore, the moratorium will be introduced until Russia either accepts Ukraine’s offer, or we have a court ruling. We are fully prepared for legal war with Russia.”
On December 18, Ukraine announced a moratorium on any payments of the Russian debt, including payment of $3 billion borrowed under Viktor Yanukovych’s presidency and which reaches maturity in December 2015. The Russian Finance Ministry noted formal default would occur on December 31 after expiration of the grace period, during which Kyiv is still able to make a payment.

If Ukraine fails to make payments within the grace period, the Russian Federation will go to court.