MOSCOW, October 17 (RAPSI) – Russia’s Finance Ministry hopes to settle the dispute between Russia and Ukraine over a $3 billion sovereign debt out of courts, Deputy Finance Minister Sergey Storchak told journalists on Monday. 

According to Storchak, in the course of forthcoming negotiations some proposals from the Ukrainian party are to be expected. The Deputy Minister expressed his hope that the Ukrainian party would see that it is in its interests to reach an agreement outside courts.

Answering a question on the timeline of such negotiations, Storchak said that the parties could launch the talks at the end of the month.

Ukraine’s sovereign debt to Russia goes back to a deal concluded by Russian President Vladimir Putin and former Ukrainian President Viktor Yanukovich in 2013. The deal stipulated buying of Ukrainian bonds amounting to $15 billion by Moscow. Russia bought $3 billion on December 20, 2013. Ukraine had to pay the debt by December 20, 2015.

On December 21, 2015, Ukraine fell into default with the debt repayment. In February 2016, Russia lodged the lawsuit against Ukraine with the London High Court.

Earlier, Russia’s Finance Minister Anton Siluanov has noted that Russia is ready to settle the matter out of courts and expressed his intention to meet Ukrainian Finance Minister Alexander Danilyuk in early October.