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No money for Moscow as Ukraine refuses to repay $3bn to Russia


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No money for Moscow as Ukraine refuses to repay $3bn to Russia

Ukraine says it will not repay the $3bn debt owned by Russia due this weekend.

Kyiv claims Moscow has refused to discuss restructuring proposals.


Ukraine expects Russia to initiate legal proceedings.

Ukrainian Prime Minister Arseny Yatseniuk made the announcement:“Starting from today, payments of these debts which amount to $3,582bn to Russia is suspended until either the acceptance of our restructuring proposals or the adoption of the relevant court decision.”


The Kremlin has said it will suspend a trade pact with Kyiv which will exclude Ukraine from from the free market that includes former Soviet states in the new year.

Relations between Russia and Ukraine are at rock bottom following Russia’s annexation of Crimea.
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