MOSCOW: Kiev owes Russia $3 billion in Eurobonds. The debt was secured by the government of then-President Viktor Yanukovych in late 2013. Moscow has repeatedly stated that Ukraine’s failure to pay back the debt by the December 20 deadline should be classified as a default.
“In its lawsuit the Russian Federation demands that Ukraine pay the principal of the Eurobond in the amount of US$3 billion, the unpaid December 2015 coupon in the amount of US$75 million, and the interest beginning from December 20, 2015, in addition to the Russian Federation’s costs in bringing the enforcement action,” the statement reads.
The ministry added that it will be represented in the legal proceeding in the English High Court by the international law firm Cleary Gottlieb Steen & Hamilton LLP.
Last week, the Russian Finance Ministry said it had received a letter from the German Finance Ministry outlining a possible solution to the Ukrainian debt issue. Russian Prime Minister Dmitry Medvedev said later that Kiev’s proposals for the settlement of its $3-billion debt to Russia sent via Berlin were unacceptable.
