Russia is ready to discuss its proposals to restructure $3 billion in Eurobonds directly with Ukraine, Finance Minister Anton Siluanov told reporters.

"We've sent out proposals to the International Monetary Fund (IMF) as the IMF is forming the aid program for Ukraine. Since we are talking about restructuring, the issue of additional financing must be decided via the program via the Fund's shareholders. Therefore the Finance Ministry has been discussing this issue with the Fund's shareholders and has submitted a formal proposal to the IMF. I personally wrote the letter to Ms. Lagarde. They've said they will look at it closely," he said.

"I'm not ruling out [a meeting with Ukraine]. There have not been any decisions on this yet, but if our proposals are accepted, then of course we'll be meeting with our Ukrainian colleagues," he said.

"We are prepared to discuss it with Ukraine. Firstly, we didn't see our colleagues from Ukraine [at the G20 summit in Antalya]. Secondly, there was a meeting between the president and the head of the IMF, at which these proposals were made. Of course it is important for us that these proposals are also understood by the IMF, by the key shareholders of the IMF and of course Ukraine," Siluanov said.

Siluanov said the proposed terms differed greatly from the terms for restructuring Ukraine's debts to commercial creditors, and that it was impossible to rank official and commercial creditors side by side. He also said he thought Russia's proposed terms were fairly good.

"Commercial creditors could have bought these securities on the market, at a discount. They could have bought them for next to nothing and still made money on the restructuring that Ukraine proposed. But we for our part provided money on non-market terms, way below the market, so if you take our proposal into consideration, and if you take into account the fact that we could have provided this money, as some experts are saying, and could have recalculated it on the basis what this money was worth at the time the National Welfare Fund (NWF) money was invested in the Ukrainian bonds, then you get conditions that are not bad at all for Ukraine," Siluanov said. Asked whether there were plans to stipulate any coupon payment on the balance of the debt, he said this was 'an issue for negotiations."

Russian President Vladimir Putin, at a meeting with the IMF head, Christine Lagarde, proposed that Ukrainian repay the $3 billion in Eurobonds that Russia bought over a period of three years: $1 billion in each of 2016, 2017 and 2018. Russia is asking that the U.S. government, EU or IMF guarantee the repayment.