Moscow has threatened Ukraine with claims of $16 billion worth of debt after Kiev hinted at nationalizing some of Russia’s assets abroad.

      According to the Russian prime minister, Ukraine has to pay off about $2 billion for natural gas supplies, $3 billion it raised in the Eurobond issue from Russia, and some $11 billion in the form of lost profits that derive from a bilateral agreement the parties signed back in 2010.

      The statement was made at the session of the national Security Council after Russia formally incorporated Crimea into its territory.

      Earlier, Russia-IC reported that Russia might be kicked out of the G8.

      The West has imposed sanctions on Russian officials and businessmen with close ties to the Kremlin, as well as Bank Rossiya after Moscow absorbed Ukraine’s breakaway region of Crimea into Russia.

      Western leaders have indicated they are considering a possible exclusion of Russia from the G8 forum.

      The upcoming summit in The Hague is likely to decide whether Russia will remain or forced to leave the format. Another option could be temporary suspension.

      Earlier, some Western leaders and Japan have announced plans to freeze military cooperation with Russia.

      The future of the G8 summit that was supposed to be held in Sochi later this year is uncertain.

      Nine Russian soldiers taking part in joint military exercises were expelled from Canada.

      Earlier, Prime Minister Stephen Harper announced that all planned bilateral activities between the Canadian Armed Forces and the Russian military of the Russian Federation were suspended, including exercises such as NORAD's Exercise Vigilant Eagle.