Yalta City Head Valery Kosarev said he is not going to repay USD 80 thousand to Ukrainian Oschadbank. Moreover, he wished to "inform the public" about this situation. In an interview with "The Crimean newspaper" Kosarev said he began building his house in Yalta in 1998 and finished in 2011.

- I took $ 100 thousand loan from Oshchadbank and still haven’t returned $80 thousand, said the Head of the Yalta City Council.

The official believes he is not obliged to repay the remaining debt since over the years the hryvnia rate has changed greatly. When asked whether he agrees to repay the debt, he said, "Never in my life!"

- I took a loan in 2007 in US currency when the dollar was UAH 4. But in 2008 Yushchenko toppled the hryvnia and the dollar cost ranged from UAH 8 to UAH 12. So if a dollar rate was even UAH 8, I have already paid those 100 thousand, said Kosarev.

Valery Kosarev became the Head of the Yalta City Council in 2014 following Russia’s annexation of Crimea. Prior to that, he was a tiler, geography teacher and a principal of the local high school. Since 2010, he is an MP of the Crimean Supreme Council.