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.
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