Russia, Ukraine fail to reach deal on Kiev debt to Moscow, talks to continue

By REUTERS
October 10, 2015 06:40
1 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

LIMA - Russian Finance Minister Anton Siluanov and his Ukrainian counterpart, Natalia Yaresko, failed to reach a deal at their meeting on Friday on restructuring Kiev's $3 billion debt to Moscow, but agreed to continue talking.

Ukraine has agreed a debt restructuring deal with a group of its largest creditors in order to plug a $15 billion funding gap under an International Monetary Fund-led $40 billion bailout program, but major creditors still need to approve the plan.

"We stated our position on the need to repay the debt to the Russian Federation," Siluanov said after his talks with Yaresko that took place on the sidelines of the IMF and the World Bank semi-annual meeting.

It was the first meeting between the countries' finance ministers since January, when Ukraine announced its plans to restructure its foreign debt.

"(Yaresko) provided details on the debt restructuring agreement reached with Ukraine's Ad Hoc Committee of creditors and called Russia to participate in that agreement," the Ukrainian side said in a statement.

Russia has said numerous times that Ukraine must repay the debt in December, when it falls due.

Ukraine has included the $3 billion Eurobond among the sovereign and sovereign-guaranteed bonds to be restructured, but Siluanov reiterated that Russia does not see the debt as commercial.

Moscow bought the bonds from Kiev before the pro-Russian president Viktor Yanukovich was ousted early last year, opening a rift which widened with the annexation of Crimea and the outbreak of the pro-Russian rebellion in eastern Ukraine.

Related Content

Breaking news
August 20, 2018
Russia urges rebels in Syria's Idlib to distance selves from Nusra Front

By REUTERS