Ukraine imposes moratorium on payment of $3.582 bln on 'Russian' debts

"We are prepared for litigation with the Russian side," Ukrainian PM said

The Ukrainian government has announced the imposition of a moratorium on the payment of a $3.582-billion debt on the so-called Russian Eurobonds issued at the end of 2013 for $3 billion and on the state-guaranteed loans the Yuzhnoye Design Bureau and Ukravtodor owe Russian banks, Ukrainian Prime Minister Arseny Yatsenyuk said on Dec. 18.

"Starting from today, payments on these debts amounting in aggregate to $3.582 billion in favor of the Russian side are stopped either until the moment when our restructuring proposals are accepted or until a relevant court ruling," Yatsenyuk said in opening a Cabinet meeting.

"We are prepared for litigation with the Russian side," Yatsenyuk said.

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