MaoZedong
15-10-2015, 11:14
Kiev will demand $1 trillion from Moscow as compensation for the loss of Crimea and its alleged activities in Donbass, according to Ukrainian Prime Minister Arseny Yatsenyuk. Ukraine has also offered Russia until October 29 to accept a debt-restructuring deal over its $3 billion debt or go to the courts.
"We are ready for judicial proceedings," said Yatsenyuk.
The Kremlin was surprised by Ukraine's intention to demand $1 trillion from Russia.
"Crimea is the territory of the Russian Federation. Donbass is the territory of Ukraine. How did they get that $1 trillion? It is not clear," press secretary to the president of Russia Dmitry Peskov told TASS.
Ukraine’s $3 billion debt to Russia is due December.
"On October 29 we offer Russia again to decide for themselves whether they are ready to accept Ukraine’s conditions," said Yatsenyuk.
He urged Russia to "join normal countries that made the decision to restructure [Kiev's debt].
Russia has repeatedly said it’s not interested in restructuring Kiev’s debt and intends to invest the money in infrastructure projects in its own territory.
At the end of August, Ukraine signed a restructuring agreement with Western creditors to reduce the national debt burden by about $3.6 billion. Kiev agreed with a creditor committee led by Franklin Templeton (which owns about $7 billion of Ukrainian bonds) on a 20 percent write-down of some $18 billion worth of Eurobonds.
The current IMF policy only allows member states to miss payments to private investors. However, Moscow insists that Kiev’s debt is a state one.
According to Russian Finance Minister Anton Siluanov, the IMF is ready to change the rules individually for Ukraine. Officially, the IMF's decision is motivated by a general change in the rules of the organization's funding, but “it is clear that this is done exclusively in order to freeze payments to Russia,” Siluanov said.
http://https://www.rt.com/business/318730-ukraine-legal-battle-russia/