Ukrainian Parliament voted for termless moratorium on payment of Eurobonds on Russian loan

Source : 112 Ukraine

242 MPs out of 226 necessary voted for the bill
13:59, 12 April 2016

Verkhonva Rada of Ukraine (Ukrainian parliament) voted for a termless moratorium on payment of Eurobonds on the loan granted to Ukraine by the Russian Federation in December 2013. 242 MPs voted for the bill in the first reading.

Presenting the bill, Deputy of the Minister of Finance of Ukraine Oksana Markarova explained, that in case parliament doesn’t vote for the bill, Ukraine will be obliged to make payment on these Eurobonds starting July 1.

Earlier, the Cabinet of Ministers of Ukraine voted for the moratorium on payment of the loan from the Russian Federation in the amount of $3 billion.

Ukraine received the $3-billion loan back in December 2013 when Viktor Yanukovych was in office.

Board of Directors of IMF recognized official status of the Russian loan on December 16, 2015. According to the Head of the National Bank of Ukraine Valeriya Hontareva, the fact that IMF recognized the loan from the Russian Federation as official won’t affect financial stability of Ukraine.

On February 17, 2016, the Russian Federation filed a lawsuit against Ukraine in London court regarding the $3-billion loan.

Related: Japan opened $269 million line of credit to support Ukraine

Related: Poroshenko: No credit guarantees from West until Ukraine forms new government

Related: European Investment Bank allocated €400 million credit to Ukrainian Ministry of Finance

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