“29 they accept the same conditions that the other creditors accepted”, Yatseniuk said. Ukrainian leaders have accused Moscow of sending troops and weapons to the east, a claim the Kremlin has vehemently denied.
Advertisement
Ukraine agreed the debt exchange with a group of its largest creditors in order to plug a $15 billion funding gap under an global Monetary Fund-led $40 billion bailout program, but remaining creditors still needed to approve the plan by vote Wednesday.
Ukraine says it is committed to maintaining global peace and security by challenging the clout of its powerful neighbor, Russia, which is a permanent member of the 15-country United Nations decision-making body. Ukraine issued the debt under Russian-backed president Viktor Yanukovych before he was ousted in February 2014. “A default involves certain procedures”, Peskov said when asked whether Russian Federation would be prepared to take legal action against Ukraine.
Standard & Poor’s and Fitch credit rating agencies have already found that Ukraine had defaulted on part of its debt in spite of an agreement last August with private creditors.
Advertisement
Ukraine’s potential failure to pay up in time could mean a show-down between the two countries at the end of December, spilling into possible asset seizures.
