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Russia Says Can Not Afford to Restructure Ukraine's $3 bln Loan

Finance Minister points out Russia is experiencing a recession; however, Moscow has not demanded early repayment, as terms entitle it to do


MOSCOW, March 27, (TASS) - Russia regards itself as the official creditor of Ukraine under the $3 bln loan, Russia’s finance minister Anton Siluanov said on Friday.

"Russia is definitely acting as the official creditor in this case," Siluanov said.

<figcaption>Russia’s finance minister Anton Siluanov | Photo: © Alexei Druzhinin/Russian presidential press service/TASS</figcaption>
Russia’s finance minister Anton Siluanov | Photo: © Alexei Druzhinin/Russian presidential press service/TASS

The IMF Board approved the Ukrainian bonds restructuring document earlier, which is related to the private sector involvement, i.e. the participation in private sector debts’ restructuring.

Russia has not yet demanded early repayment of the loan by Ukraine, Siluanov said. "We make concessions and do not claim early repayment but we are not ready to talk about restructuring or postponement," the minister said. Russia is not ready for restructuring because it's experiencing recession itself, he added.

No formal restructuring requests were received from Ukraine, the minister said.


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