U.S. Treasury urges Russia to restructure Ukraine's debt

09:41, 12.11.2015 1 min read

U.S. Treasury Secretary Jacob J. Lew has called on Russia to reconsider its position on the restructuring of Ukraine's debt, which would enable Ukraine gradually to become solvent thanks to development of the economy.

"I hope that Russia will reconsider the position on the reconstruction of debt," he said in an interview with the BBC.

"I think they could have done to recognize that the restructuring enables Ukraine to return to economic growth. This is critical for Ukraine, which will automatically be able to meet its obligations," Lew said.

Ukraine recently restructured all issues of its eurobonds, apart from "Russian" bonds worth $3 billion. Russia did not take part in the restructuring, insisting on paying on the bonds in the established term – in December 2015. Russia said that it is not a commercial creditor and it will not take part in the restructuring. If the debt is not paid, Russia plans to appeal to court.