Default in Ukraine

Ukraine is in a state of default now: the government has missed the deadline to pay off its $3 billion debt to Russia, the Ministry of Finance of Russia said.

"Ukraine has not made the ​​payment of $3.075 billion in repayment and servicing of external bonds owned by Russia during the grace period, which expired on December 31, 2015," the agency said.

The head of the ministry Anton Siluanov stressed that Moscow is ready to examine any significant offer from Ukraine on its debt to Russia, and believes that the legal action does not exclude the possibility of the debt settlement.