Russian Finance Minister, Anton Siluanov, is increasing its pressure on Ukraine with his announcement yesterday that Russia will consider it a default if Ukraine fails to pay off a $3bn eurobond in December, and has called on Darya Korsunskaya to help Ukraine repay the bond. Russia's finance ministry is preparing a "concrete plan of actions" in case of a default, which includes taking Ukraine to court on the bond, said Siluanov. As we have previously noted, the bond, which Russia bought from former President Viktor Yanukovych in 2013, remains a wildcard in Ukraine's debt overhaul, needed to keep an IMF-led bailout on track and help lift the country from recession.
Russian Finance Minister, Anton Siluanov, is increasing its pressure on Ukraine with his announcement yesterday that Russia will consider it a default if Ukraine fails to pay off a $3bn eurobond in December, and has called on the International Monetary Fund to help Ukraine repay the bond. Russia's finance ministry is preparing a "concrete plan of actions" in case of a default, which includes taking Ukraine to court on the bond, said Siluanov. As we have previously noted, the bond, which Russia bought from former President Viktor Yanukovych in 2013, remains a wildcard in Ukraine's debt overhaul, needed to keep an IMF-led bailout on track and help lift the country from recession.