Ukraine is currently unable to fully service its foreign obligations and therefore the debt restructuring offer is necessary and right and the creditors should accept it, Ukrainian Prime Minister Arseniy Yatseniuk said.

"The government is very firm in its position on the need to complete the negotiations on the restructuring of the country's foreign debt," Yatseniuk said in the Verkhovna Rada on Friday.

"We ask and insist that the creditors realize the situation and accept Ukraine's offer, which is right. It's time for the creditors to help Ukraine," Yatseniuk said.