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Russia ready for out of court settlement on Ukraine's debt: minister

Xinhua, September 12, 2016 Adjust font size:

Russia is ready to consider an out of court settlement of the issue of Ukraine's 3-billion-U.S. dollar debt owed to Russia, Russian Finance Minister Anton Siluanov said Monday.

"The condition is that Ukraine makes proposals, which will substantially differ from the ones to which commercial creditors have agreed," Siluanov was quoted by the RIA Novosti news agency as saying.

Russia lent Ukraine the money in the form of Eurobonds in December 2013 to shore up its economy under former Ukrainian President Viktor Yanukovich.

Moscow filed a lawsuit against Kiev at London's High Court of Justice in February, after bilateral negotiations failed to make a deal before the debt repayment matured in December 2015.

The hearings are scheduled to take place on Jan. 17-20, 2017.

Russia has refuted the conditions agreed by Ukraine and its other international creditors on a significant write-off of the country's debts and an extension of the repayment period.

Siluanov said Moscow had not yet received any official request from Kiev on the restructuring of the debt.

Russia will also vote in the International Monetary Fund against granting a new loan to Kiev unless it agrees to settle the debt issue with Moscow, he added. Endi