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Yatseniuk Rules Out Assent To Russia Proposal To Restructure Ukraine's Foreign Debt On Special Terms

Ukraine sent a respective offer to Russia too.

Prime Minister Arsenii Yatseniuk rules out assenting to Russia's proposal to restructure Ukraine's foreign debt on special terms, he has announced at a Cabinet of Ministers meeting.

"The Russian Federation has not joined the creditor committee so we officially state that Russia in no circumstances will get better terms than the lenders have. This is there decision. You either accept our conditions or you'd never get any better terms," he said.

Ukraine has negotiated with its creditors writedown of 20% or USD 3.8 billion out of USD 19.3 billion.

Ukraine sent a respective offer to Russia too.

Russian Minister of Finance Anton Siluanov says Russia has no intention of taking part in the restructuring of Ukraine's foreign debt.

As Ukrainian News earlier reported, the Finance Ministry on August 4 sent a renewed foreign debt restructuring offer to Ukraine's lenders.

The Finance Ministry keeps insisting in a 40% writedown, rescheduling and cutting the interest rate.

In late July, creditors suggested Ukraine to write off 5% of its foreign debt during the restructuring.

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