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 Russia refused to discuss debt restructuring with Ukraine, - Government Commissioner Lisovenko

Russia did not put forward any counter offer on restructuring a $3-billion Eurobond after the rejection of Ukraine's proposal in the framework of debt operations.

Government commissioner for public debt management Vitalii Lisovenko said in a blitz interview with Interfax-Ukraine, Censor.NET reports.

"We have not received any formal proposals from Russia. We came up with a special offer to which they replied that they did not want to talk to us. Therefore, the ball is in their court," he said.

In future, Lisovenko went on, if the Russian side is ready to enter into negotiations regarding the restructuring of these securities, such restructuring will be carried out within the IMF program criteria and the limitations contained in the new sovereign bond issue conditions of Nov. 12, 2015. They stipulate, in particular, that Ukraine can not provide better conditions to any other parties that have not accepted the proposal for the restructuring and exchange of Eurobonds. There is also a formula, according to which the NPV [net present value - ed.] of a new transaction should not be higher than the current one.

Read more: Yatseniuk explained moratorium on "Yanukovych's debt" repayment

Commenting on Russia's threats with respect to taking legal action in case of Ukraine's failure to repay the Eurobond, Lisovenko said that Ukraine was ready for a possible litigation, including attempts to block the Ukrainian assets abroad. At the same time, he found it difficult to say when the trial was actually expected and how long it could last for.
 
 
 
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