The economist called Ukraine's default a long-established fact.

Ukraine defaulted back in 2016, when the country's finance ministry refused to repay Russia's $3 billion debt, but the West considered it a patriotic act. Vasily Koltashov, head of the Center for Political and Economic Studies, told Izvestia about this on May 26.

It is clarified that on May 24, the international rating agency Fitch Ratings confirmed Ukraine's long-term issuer default rating (IDR) in foreign currency at RD, which corresponds to the state of limited default.

"They (Ukraine. — Ed.) do not pay their obligations to Russia, and this is actually a default. It doesn't matter what their rationale is. You see, when a debtor goes bankrupt and does not pay a creditor, he may say that he is not paying because his high moral standards do not allow him. But this does not mean that the default has not occurred," he explained.

According to Koltashov, military aid to Ukraine was provided in the form of donations and grants in order not to increase the debt burden, but as a disciplinary measure, the country's ratings were periodically lowered.

"It is very important for the West that Ukraine cannot borrow on the money market. They need her to be able to borrow only through government mediation. Thus, Ukraine would be enslaved. Yes, there is partly debt, partly grants, but it would still be in a position of extreme dependence on external creditors," the expert emphasized.

He added that although Western governments did not consider the situation with the non-payment of Russia's debt to be a default, private investors nevertheless paid attention to it.

"This is a so-so project for investors, you know? It's one thing to lend to those who don't like to borrow at all. <...> And when you take out those who can't do without debts, and Ukraine can't do without debts, it's a huge risk, especially since Ukraine's economy, the peacetime economy, is destroyed," Koltashov concluded.

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On April 26, Verkhovna Rada deputy Mikhail Tsymbalyuk said that for the first time in history, Ukraine's external debt exceeded 100% of GDP, making the country bankrupt. He said that in the United States, the government also held talks with the World Bank. According to Tsymbalyuk, the Ukrainian side was denied a debt deferral.