"The Ministry of Finance of the Russian Federation reaffirms its full readiness to full-fledged and good-faith negotiations with the defaulter. The readiness of the Ukrainian side to recognize the official status of the debt and offer better conditions than those offered to commercial lenders should become the cornerstone of success of these negotiations," the Russian minister said.
Mr Siluanov is confident that the Ministry of Finance of the Russian Federation will be able to recover the entire Ukraine's debt to Russia on Eurobonds, which amounts to $3.075 bn. In addition, the agency believes it will be able to recover the costs associated with filing a claim in the International Court of Justice.
It should be reminded that a meeting of the Russian-Ukrainian Interstate Commission with the participation of Russian President Vladimir Putin and Viktor Yanukovych took place in Moscow Dec. 17, 2013. A package of 14 documents was signed there as a result. In particular, the Russian government undertook commitments to invest part of its reserve fund in the amount of $15 bn in securities issued by the Ukrainian government - a two-year Eurobonds with a 5 percent coupon rate. Russia transferred $ 3 bn to Ukraine Dec. 24 2013 although the following tranches were not disbursed as Yanukovych and his cronies fled Ukraine after slaughter in the center of Kyiv.
Aug. 28, 2015, Russia's Finance Minister Anton Siluanov said that the Russian Federation would demand full redemption of Ukraine's Eurobonds worth of $3 bn in Dec. 2015 and it had planned what to spend them for. The agency allegedly planned to allocate these funds for the development of infrastructure. Sept. 17, 2015, Ukrainian Prime Minister Arsenii Yatseniuk said that either Russia accepted Ukraine's terms of debt restructuring or it would be proposed no other conditions ever.
Dec. 8, 2015, the Cabinet of Ministers of Ukraine adopted a decree No. 1312, which temporarily suspended payments under these Eurobonds. The suspension entered into force from the date of their scheduled redemption - Dec. 20, 2015.
In his interview to Bloomberg, President of Ukraine Petro Poroshenko described the Russian $3 bn loan as a bribe, which Yanukovych had received from Moscow for Ukraine's refusal from European integration.