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Ukraine says ready for dialogue with Russia over multi-billion debt

Xinhua, September 13, 2016 Adjust font size:

Ukraine stands ready to enter a dialogue with Russia over Kiev's 3-billion-U.S.-dollar debt, Ukrainian Finance Minister Alexander Danyluk said on Tuesday.

"In accordance with Ukraine's obligations under its current cooperation program with the International Monetary Fund (IMF), in particular regarding "good faith" negotiations with the Russian Federation on the claimed debt, Ukraine is ready to enter into further talks on the possible resolution of the dispute," Danyluk said in a press statement.

The negotiations between Kiev and Moscow may start as soon as early October in the framework of the IMF meetings, Danyluk added.

His comments came after Russian Finance Minister Anton Siluanov said on Monday that Moscow is prepared to consider an out-of-court settlement of the debt dispute.

The Ukrainian government borrowed a two-year loan in the form of Eurobonds from Russia in December 2013 to shore up its economy.

Failing to meet its repayment obligations before the debt matured in December 2015, Ukraine has pushed Russia to join its debt-restructuring agreement with other international creditors. Moscow has refuted the proposal offering. In turn, Russia's own debt-relief plan was rejected by Kiev.

After bilateral negotiations failed to make a mutually acceptable deal, Moscow filed a lawsuit against Kiev at London's High Court of Justice. The hearings are slated for January 2017. Endi