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Ukraine to Honor Russian Eurobond Payments in Crimea Dispute

Ukraine will meet payments on the $3 billion of Eurobonds it sold to Russia three months before President Vladimir Putin’s military incursion into the Crimean peninsula, a Finance Ministry official in Kiev said.

“Ukraine will pay its debts as it has been doing,” Denis Khristoforov, an official at the sovereign-debt department of Ukraine’s Finance Ministry, said by phone today, when asked about the bonds issued to Russia. “These are Eurobonds even if there is only one debt holder. If we do not pay them, we would de-facto be in default. Ukraine doesn’t want that.”