A Russian official said Thursday that Moscow would not restructure a $3 billion loan to Ukraine due for repayment in December, as the cash-strapped Kiev government nears a deadline in negotiations with international creditors over $23 billion in debt.
"We are not participating in this debt operation and have no plans to participate," Russian Deputy Finance Minister Sergei Storchak said at a business forum held in the Georgian capital of Tbilisi by the European Bank for Reconstruction and Development, the Interfax news agency reported.
Storchak's statement echoes comments by Russian Finance Minister Anton Siluanov, who said last month Russia could sue if Ukraine failed to repay the $3 billion loan on time.
Ukraine is seeking to restructure and reduce the face value of its debt to help weather an economic crisis that has been aggravated by fighting between its army and Russia-backed separatists in the country's eastern regions. Kiev needs to reach agreement in June to avoid a default, but negotiations have so far failed to make much progress.
Storchak's statement comes a day after Moscow agreed to change the terms on a $1.55 billion loan to Belarus, a former Soviet republic that, unlike Ukraine, has stayed politically close to Russia.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
