Russia expects Ukraine to pay back $3 billion for Yanukovych debt

Russia believes that it has every reason to expect Ukraine to pay back $3 billion for the debt of Viktor Yanukovych, news agency Tass reports.

“The High Court of London made a decision, and at the beginning of next year the appeal will be considered. I am confident that an objective decision will be made, and we will have every reason to demand from our neighbor the fulfillment of its obligations,” said Russian Minister of Finance Anton Siluanov on Sunday on the Russia 1 television station.

“We are open to negotiations with our Ukrainian colleagues. The main condition is that we must receive the full amount of this debt from Ukraine, this is $3 billion, and our conditions should be better than those of commercial creditors. I am confident that proposals for Ukraine to fulfill its obligations will be found,” he said.

On March 29, the High Court of London decided to consider Russia’s claim against Ukraine in the case of $3 billion in Eurobonds without delays, as requested by the Russian Federation. Russia’s Ministry of Finance reported that the court ordered Ukraine to pay off the Eurobonds along with interest.

Then Ukraine’s Ministry of Finance said that the High Court of London had allowed Ukraine to appeal the decision, and suspended its ruling for Ukraine to pay the debt to Russia.

On June 23, the Ministry of Finance reported that Ukraine had filed an appeal, and that it would be considered by the English court in January 2018.

Ukraine owes Russia $3 billion for controversial bonds which were issued in late 2013 as part of assistance to Viktor Yanukovych’s regime in exchange for its refusal to accept aid from the European Union. President Vladimir Putin promised Yanukovych $15 billion, but because of Euromaidan (Ukrainian revolution of Dignity) issued only $3 billion.

  Russia, Ukraine, Yanukovych debt