Russia Makes Proposal for Ukraine Debt, Easing Standoff
By Andrey Ostroukh
Russia is prepared for Ukraine to restructure its debt to Moscow, proposing that Kyiv pays back a $3 billion loan
in equal parts over the next three years, President Vladimir Putin said Monday.
Speaking on the sidelines of the Group of 20 leading economies summit in Antalya, in Turkey, Mr. Putin said that
Moscow proposed Kyiv pay $1 billion a year from 2016 to 2018, state news agency RIA reported. Mr. Putin said Moscow was
ready to share Ukraine-related risks with the International Monetary Fund.
Mr. Putin’s comments mark a sharp shift in Moscow’s position on the debt. Previously, Russia rejected any calls for
debt restructuring in line with other creditors, insisting that Ukraine must pay back $3 billion in full by the end of
this year.
Earlier on Monday, Russian Finance Minister Anton Siluanov had said that Moscow had made an “interesting proposal”
to Kyiv, regarding the loan that Moscow provided to the country’s former President Viktor Yanukovych in late 2013 by
buying Ukraine’s Eurobonds.
The change to Russia’s position over the Kyiv’s debt issues follows calls from Washington. Earlier this month, the
U.S. urged Moscow to take part in a debt restructuring deal along with other bondholders. Ukrainian Prime Minister
Arseniy Yatsenyuk has repeatedly said that Russia wouldn’t get preferential treatment.
Write to Andrey Ostroukh at andrey.ostroukh@wsj.com
(END) Dow Jones Newswires 11-16-151057ET Copyright (c) 2015 Dow Jones Company, Inc.