Accessibility links

Breaking News

Russia 'Makes Proposal' To Solve Ukraine Debt Standoff

Russia says it is putting forward a proposal to resolve a debt dispute with Ukraine.

Speaking to reporters during a summit of the Group of 20 (G20) major economies in southern Turkey, Finance Minister Anton Siluanov said on November 16 that Moscow had talked to the International Monetary Fund about its proposal.

He didn't disclose any details.

Ukraine has reached a $15 billion restructuring agreement with private foreign creditors, while threatening a default unless Russia accepts the terms.

Moscow argues that Ukraine's $3 billion debt to Russia, which comes due in December, is sovereign and not subject to restructuring talks with commercial lenders.

"We consider it unacceptable for us to talk about a restructuring that's similar to commercial lenders, which is why we made our own suggestion," Siluanov said.

Based on reporting by Interfax and