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 Russia to sue Ukraine, reluctant to discuss debt restructurization

Russia does not intend to start negotiations with Ukraine on restructurization of its $3 billion loan, insisting on full settlement in due time.

This was stated by Russia's Minister of Finance Anton Siluanov, Censor.NET reports citing UNIAN.

"We will apply to relevant judicial authorities. Also, as members of the International Monetary Fund, we will put the issue forward before the international financial institution on consistency of the program accepted by the IMF with regard to Ukraine," Siluanov said.

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According to him, "in the event of failure to settle debts owed to a sovereign state, implementation of such programs is impossible."

"Unlike commercial lenders that are currently in talks on restructuring with the Ukrainian government and the Ministry of Finance, Russia's debt is national, sovereign. As to sovereign debts, there is a special settlement procedure. We will not enter into negotiations with the Ukrainian government in this part. We have repeatedly announced it," Siluanov said.

According to him, the Ministry of Finance of the Russian Federation assumes that sovereign debts should be paid in full and in due time.

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He said that Russia will demand repayment of the full amount in accordance with schedule. According to him, the Russian Federation needs these $3 billion for infrastructure projects.
 
 
 
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