Ukraine not to repay Russia debt
Ukraine announced on Friday it would not make payment on its $3 billion debt to Russia due this weekend, deepening a row with Moscow which said it would take Kyiv to court.
The announcement essentially confirmed that Kyiv will default on the bond come Sunday and unleash a protracted legal battle.
Speaking at a government meeting, Prime Minister Arseniy Yatsenyuk said that Ukraine “is imposing a moratorium on repaying the so-called Russian debt.”
Russian President Vladimir Putin had last week ordered his government to sue Ukraine if it defaults on the bond, after Moscow said that Kyiv has rejected its offers of debt restructuring. — AFP