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Ukraine's Verkhovna Rada extended moratorium on Russian eurobond payments

Ukraine's Verkhovna Rada extended moratorium on Russian eurobond paymentsUkraine's Verkhovna Rada has voted to extend its moratorium on payments on $3 billion in two-year eurobonds issued in December 2013, which Russia bought with National Welfare Fund (NWF) money.

A total of 242 deputies voted to extend the moratorium, which currently lasts until July 1, 2016.

Read also: DTEK seek to restructure 2018 eurobonds

Introducing the bill, Deputy Finance Minister Oksana Markarova said a law was passed in May 2015, imposing a moratorium on debt payments until July 1. Since most of Ukraine's foreign debt has been restructured in the course of negotiations with creditors, it is now necessary to extend the moratorium, which will now apply only to payments on the so-called "Russian" eurobonds, she said.
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