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Ukraine refuses to pay $3 bln debt to Russia

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Ukraine refuses to pay $3 bln debt to Russia

Ukrainian government doesn’t see the reasons to repay $3 bln debt to Russia, which granted a loan to Kiev in 2013 at the time of Viktor Yanukovich presidency, the Ukrainian Finance Minister, Alexander Danilyuk, said on Wednesday.


“This was a political credit, which we were forced to accept… Our stance is that we shouldn’t return this money”, - the Minister explained in an interview with Expresso TV Channel.

In December 2013, when Viktor Yanukovich suspended the preparation process for the conclusion of a treaty with the EU, Russian President Vladimir Putin announced that the RF government would allocate $15 bln in public bonds of Ukraine. Kiev issued Eurobonds totaling $3 bln of two year duration. The bonds were redeemed by the Fund of National Welfare. Shortly afterwards, the political power changed hands in Ukraine.

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