In Russia, Ukraine

Deutsche Welle, Friday, Jan 1, 2016

Ukraine has defaulted on its $3 billion loan from Russia dating from 2013. The Russian foreign ministry said it will file a formal legal complaint against Kyiv in a British court.

The Russian finance ministry on Friday said it will be suing Ukraine for defaulting on a loan of $3 billion (2.76 billion euros) after the former Soviet country failed to meet a December 31, 2015, repayment deadline.

“As a consequence of Ukraine’s payment default…a formal legal complaint against Ukraine will soon be filed in an English court,” said a statement from the Russian finance ministry.

In December, Kyiv announced it would be putting a moratorium on repayment to Russia.

The debt dates to 2013 when Moscow offered the loan to Ukraine under former Ukrainian President Viktor Yanukovych, the pro-Russia [sic] politician ousted from power during pro-European protests.

The Russian ministry statement noted that the legal action did not “preclude” talks to negotiate the terms of repayment. “The Russian Federation would carefully examine any meaningful proposal from Ukraine and believes that the commencement of legal proceedings does not preclude a constructive dialogue with a view to reaching an acceptable solution,” the statement added.

Ukraine has struggled with an economic downturn and a conflict against pro-Russia separatists [sic] in the country’s east. In 2014, Russia annexed [sic] the Ukrainian region of Crimea, placing the Kremlin at odds with Kyiv’s pro-EU government.

Also on Deutsche Welle:
EU-Ukraine trade deal starts, Moscow responds, Jan 1, 2016

A free-trade accord giving Ukraine tariff-free access to EU markets has come into effect under an association deal between Brussels and Kyiv. In response, Russia has banned food imports from its southwestern neighbor. 


EDITOR’S NOTE: We remind our readers that publication of articles on our site does not mean that we agree with what is written. Our policy is to publish anything which we consider of interest, so as to assist our readers in forming their opinions. Sometimes we even publish articles with which we totally disagree, since we believe it is important for our readers to be informed on as wide a spectrum of views as possible.

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Start typing and press Enter to search

Translate »