Ukraine not to repay $3-billion debt to Russia: Premier

‘Ukraine’s prime minister says the country will not pay back its USD three-billion debt to Russia despite Moscow’s warning that it would take legal action against Kiev if it misses looming deadline for the debt redemption.

Addressing a cabinet meeting on Friday, Arseniy Yatsenyuk said Kiev had decided to impose a “moratorium” on the Russian bond, meaning the Ukrainian government would officially default on the bond due on December 20.

“From today we are halting payments on this debt,” said the Ukrainian premier, adding, “I stress, once again, that we are ready for a legal process with the Russian side.”’

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