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Russian PM says little sense in discussing Ukraine's $3 billion debt
February 12, 2016 / 9:28 AM / 2 years ago

Russian PM says little sense in discussing Ukraine's $3 billion debt

MOSCOW (Reuters) - Russian Prime Minister Dmitry Medvedev said he planned no talks on Ukraine’s $3 billion (2 billion pounds) debt to Russia at the Munich Security conference this week.

Russian Prime Minister Dmitry Medvedev speaks during an interview at the Gorki state residence outside Moscow, Russia, February 11, 2016. REUTERS/Ekaterina Shtukina/Sputnik/Pool

“There is nothing in particular to discuss. The debt has to be paid back,” Medvedev said in an interview with Russian news agency Sputnik.

Russia says the $3 billion, owed from a two-year eurobond issued in December 2013, is bilateral, country-to-country debt and is not up for restructuring along the lines of Ukraine’s commercial debt to private creditors.

Medvedev said that Russia had received Ukrainian proposals on the debt via German intermediaries, but that these were not acceptable.

He said the proposals failed to define the $3 billion as country-to-country debt and that the terms were worse than those offered to commercial creditors. “Who is going to act to their own detriment?” Medvedev said.

Reporting by Vladimir Soldatkin; Writing by Christian Lowe; By Margarita Papchenkova

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