Russia still expects Ukraine to repay $3 bln debt in 2015

MOSCOW, Mar 3 (PRIME) -- Russia still expects Ukraine to redeem its U.S. $3 billion debt at the end of 2015 and is discussing no restructuring, although the Ukrainian finance minister said the country plans to offer restructuring to its creditors, Finance Minister Anton Siluanov told reporters late Monday.

“Ukraine has previously said its budget has the money to redeem the debt to Russia,” Siluanov said.

“If we look at the International Monetary Fund’s (IMF) draft program, we will see a serious restructuring of all almost debt, excluding $3 billion. Whose $3 billion that is – Russian, IMF’s or other creditors – remains unclear. But we have already announced our position on restructuring. We will see what the program would look like, and how our Ukrainian colleagues will fulfill their obligations.”

Siluanov has previously refused to restructure Ukraine’s U.S. $3 billion debt because of the crisis. Later, Ukraine’s Foreign Ministry said it did not send such a request.

In 2013, Russia bought $3 billion worth of Ukraine’s 2-year Eurobonds that carry an option of an early redemption and mature in December 2015. Previously, Siluanov said Kiev violated conditions of the loan when its debt exceeded 60% of GDP, and Moscow has the right to demand the loan’s early redemption.

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