Russia refuses to participate in Ukraine's debt restructuring talks

"We will apply to the relevant judicial authorities. Also, we, as members of the International Monetary Fund (IMF), will raise this issue for consideration by the international financial institution – as to the consistency of the program the IMF has approved for Ukraine," Siluanov said.

According to him, "in case of a failure to settle debts owed to a sovereign state, the implementation of such programs is not carried out."

"Unlike commercial lenders that are currently in talks with the Ukrainian government and the Finance Ministry regarding restructuring, Russia's holding of Ukrainian debt should be classified as sovereign public debt. With respect to sovereign debts there is a special procedure for the settlement of these cases. We will not enter into negotiations with the Ukrainian government and we have repeatedly stated this," Siluanov said.

According to him, Russian Finance Ministry assumes that sovereign debt should be paid in full and in due time.

Siluanov noted that Russia is set to demand the repayment of the full amount of debt in accordance with the schedule. According to him, the Russian Federation plans to channel the funds received to development of infrastructure projects.

As UNIAN reported earlier, the Ukrainian government reached an agreement with the creditors' committee, which implies a 20% write-off of public debt to be restructured, totaling $19 billion. At the same time Russian lenders were offered the same terms for the restructuring of Russia's $3 billion debt.

However, Russia has already announced that it would not participate in debt restructuring. Meanwhile, the U.S. Treasury has called on all Ukraine's creditors to conclude the negotiations on debts as soon as possible.