Russia still open to ‘reasonable’ proposals on Kiev debt settlement

SHANGHAI, Feb 26 (PRIME) – Russia is ready to consider any reasonable proposals to restructure Ukraine’s U.S. $3 billion debt, Finance Minister Anton Siluanov told reporters on Friday.

“Although a lawsuit to the High Court of London was filed, we are ready to consider proposals of the Ukrainian side on redemption and servicing of those debts which cannot be repaid to the Russian Federation. We are open, ready for discussion, but I am repeating once again – only reasonable proposals are needed,” he said.

Russia filed a lawsuit over non-repayment of the Eurobond by Ukraine to the High Court of London on February 17.

The $3 billion 2-year Eurobonds were bought by Russia in 2013. The paper matured in December 2015. Ukraine believes the debt is commercial and is subject to a restructuring deal, reached on August 27, 2015, which includes a 20% write-off and a delay of redemption till 2019–2027.

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