Russia expects Ukraine to repay a $3 billion Eurobond in full and on time, deputy finance minister Sergei Storchak said on Monday.

In late 2013 Russia acquired $3 billion in Ukrainian Eurobonds that fall due this December.

Mr Storchak also said that Moscow would not exercise a covenant of the Eurobond that stipulates that Russia has the right to ask for early repayment if Ukraine's overall debt exceeds 60 per cent of nominal gross domestic product. Mr Storchak said Russia does not want to make Kiev's "life more difficult".