Sunday, December 20, 2015

Ukraine defaults on $3bn Eurobond to Russia

Ukraine has imposed a moratorium on the $3 billion Russian debt repayment, said the country’s Prime Minister Arseny Yatsenyuk at a cabinet meeting on Friday. The announcement comes ahead of the December 20 deadline for the debt redemption.

"Considering that Russia has refused, despite our efforts, to sign an agreement on restructuring and to accept our proposals, the cabinet is imposing a moratorium on payment of the Russian debt worth $3 billion," said Yatsenyuk.

The payment is halted "until we make restructuring proposals or a relevant court decision is made," added the Prime Minister.

Kiev's moratorium on debt repayment to Russia constitutes default, according to the chairman of the Federation Council International Affairs Committee Konstantin Kosachev .... https://www.rt.com