Russia not intending to participate in restructuring Ukraine's debt

Russia does not intend on participating in restructuring Ukraine's debt, Russian Deputy Finance Minister Sergei Storchak told reporters at a European Bank for Reconstruction and Development (EBRD) forum on Thursday.

Russia does not intend on participating in restructuring Ukraine's debt, Russian Deputy Finance Minister Sergei Storchak told reporters at a European Bank for Reconstruction and Development (EBRD) forum on Thursday.

"We aren't going to participate in the debt operation. We just aren't. This thing is called a 'debt operation' in the extended financing program. We don't participate in the debt operation and we aren't going to participate," he said.

Storchak added that Russia expected Ukraine to pay on bonds in June. "On June 20, we are expecting the next coupon payment," he said.

"Let's get to the month of December and then we'll see what's next. I'm basing this on the fact that Ukraine is interested and that this is the aim of its refinancing programme - to return to global debt markets," Storchak told journalists, commenting on the possibility of suing Ukraine in arbitration court.

He noted that in order for Ukraine to return to global debt markets, it is first necessary to "meet obligations towards investors and security holders - this is the most important prerequisite."

"Meeting obligations on issued securities is in Ukraine's own long-term interests," Storchak said.

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