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Russia and Ukraine can't agree on financing

Staff writer ▼ | October 12, 2015
Russian private banks will invest about $2 billion in their Ukrainian subsidiaries, Russia's Finance Minister Anton Siluanov said.
Anton Siluanov
No deal yet   Billions in game in Ukraine-Russia relationship
"Our participation in support of Ukraine is in capitalisation of subsidiaries of Russian commercial banks," he said in an interview with Rossiya 24 broadcaster on Saturday.

"Our banks will invest about $2 billion in their subsidiaries."

The finance ministers of Russia and Ukraine reached no agreement on Friday to restructure the $3 billion debt Kiev owes to Moscow, but will maintain the dialogue, Russian Finance Minister Anton Siluanov has said.

Siluanov and his Ukrainian counterpart Natalia Yaresko met in Lima, Peru, on Friday on the sidelines of the International Monetary Fund and the World Bank semi-annual meetings.

"We stated our position on the need to repay the debt owed to Russia. The colleagues from Ukraine’s finance ministry said they have no such money in budget and suggested that we participate in its restructuring along with commercial creditors," Siluanov said.

Russia plans to go to court if Ukraine fails to repay its $3 billion debt by the end of the year, Finance Minister Anton Siluanov has told the Rossiya-24 TV channel.

"In case the Ukrainian side does not pay the debt owed to us, in fact this will be the default of Ukraine. We will turn to judicial instances as envisaged by the terms for Ukraine’s eurobonds in which we invested state funds. That’s why we will seek Ukraine’s implementation of obligations in late this year," Siluanov said.


 

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