Ukraine makes $75 mln Russian debt payment

Even as it is trying to restructure its sovereign debt, Kiev makes an interest payment to Russia on $3 billion Eurobond

Ukraine makes $75 mln Russian debt payment

World Bulletin / News Desk 

Ukraine has made a $75-million interest payment on a $3-billion Eurobond held by Russia, the Russian Finance Ministry told RIA Novosti news agency on Monday.

“Ukraine has paid, the money hasn’t been transferred into the accounts yet, the payment is undergoing technical finalization,” the ministry said.

At the end of 2013, Russia bought a Eurobond worth $3 billion. Ukraine is required to repay the full amount by the end of 2015.

Ukraine is trying hard to restructure its debt, to gain more time for repayment. Russia has repeatedly refused Ukraine government requests to delay payments. 

Despite intense pressure on the Ukraine government's funds, the government made the interest payment due this week.

Ukraine is negotiating with foreign bondholders to restructure $23 billion in sovereign debt, but creditors, of which the largest is the U.S.-based fund Franklin Templeton, have refused requests to accept a haircut.

Güncelleme Tarihi: 22 Haziran 2015, 14:20