Finance Minister Natalie Jaresko negotiated a 20 per cent writedown on $18bn worth of bonds in August, with investors holding $15 billion worth of Eurobonds approving the deal. But Russia claims the bond was a loan to the government and therefore should not be part of debt restructuring.

Former President’s government

The Russian government bought the bond in early 2014 from the government of former Ukrainian President Viktor Yanukovych, who now resides in Russia after fleeing Ukraine in February of the same year.

Ukraine ready

Ukrainian Prime Minister Arseniy Yatseniuk stated: ‘We suggest on Oct. 29 they accept the same terms which were accepted by all Ukrainian creditors. If they think they are unique, we are ready for the court’s case with the Russian Federation.’ Source: International Business Times