Vladimir Putin proposed to postpone the payback of a 3 billion USD credit for 3 years. Starting from 2016 the Ukraine would have to pay Russia 1 billion USD back, to become dept-free in 2018. This proposal was made during the G20 summits.

The Russian President highlighted that Russia is not only giving Ukraine a possible way to pay back the dept, but also show that they are more cooperative than requested by the IMF.

The IMF requested to postpone the payment until 2016. Putin said that Russia is even willing to spread the payback for 3 years.

Putin explained that Russia would pass on any payment from Ukraine this year, in hope of a steady payback in the following years. However Russia is demanding an assurance from the USA, the EU or from the international financial organizations.

Putin holds the opinion that, as far as he is concerned, the partners of Ukraine are confident in the solvency of the country and that they are convinced that the financial situation in the Ukraine will improve. Russia does not doubt these hopes and believes that Ukraine will be able to pay back its dept and Russia believes the Western partners shouldn’t have a problem giving Russia a warranty if they so strongly believe in Ukraine.

Putin said that he also discussed this idea with Obama, who thinks that it’s an interesting one.

Prior to the meeting, the Russian Finance Minister informed about an offer to Ukraine, but without telling any details. He also said that although Ukraine refuses to pay, they still did not submit an alternative proposal to Russia.