Ukraine has imposed a moratorium on the $3 billion Russian debt repayment, as well as $507 million state-guaranteed loans the Pivdenne Design Bureau and Ukravtodor owe Russian banks, said Arseniy Yatsenyuk at a December 18 cabinet meeting. According to Yatsenyuk, Ukraine restructuring of its debt obligations ‘with reasonable creditors who accepted the proposals advanced by the Ukrainian side’.

"Considering that Russia has refused, despite our efforts, to sign an agreement on restructuring and to accept our proposals, the cabinet is imposing a moratorium on payment of the so-called Russian debt worth $3,75 billion.

We are prepared for court action from the Russian side,” said Yatsenyuk.