Official: Ukraine wants Russia to accept $3 bln debt restructuring

KIEV, Dec 29 (PRIME) -- Ukraine will not lift its moratorium on redemption of a U.S.$3 billion Eurobond held by Russia until Moscow accepts restructuring conditions, which Kiev offered to its commercial creditors, Prime Minister Arseny Yatsenyuk said in a news conference Tuesday.

“The Ukrainian government has imposed a moratorium on redemption of the $3 billion to the Russian Federation. Russia has refused to participate in debt restructuring, Russia has refused to accept conditions that were accepted by all reasonable creditors in the world. And this is why the government imposed the moratorium…until Russia accepts Ukraine’s position and restructures the debt,” he said.

Russia will not receive any other restructuring conditions than were previously suggested to foreign creditors, he said.

Russia bought the 2-year Eurobonds in December 2013 and rejected restructuring conditions proposed by Ukraine to its commercial creditors. Kiev insisted that the terms of debt repayment to Russia will be the same as for private creditors. The International Monetary Fund (IMF) recently recognized this debt as sovereign.

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