Ukraine gives Russia two weeks to agree to debt restructuring

MOSCOW: Ukraine's prime minister has given Russia two weeks to agree to a restructuring deal for a $3 billion loan or face a lawsuit.

Arseny Yatsenyuk was quoted by Russian news agencies as saying Thursday that all Ukrainian bondholders on Wednesday agreed on the previously announced restructuring deal while a Russian representative did not show up. He said he would give Moscow two weeks until Oct. 29 by which it should either agree or expect a lawsuit.

The August deal sees creditors write off 20 percent of their bond holdings, shrinking $19 billion in Ukraine's sovereign debt to $15.5 billion.

Moscow has insisted that it wants to be fully repaid for the $3 billion loan it gave to Ukraine which is due by the end of the year.