KIEV, Dec. 15 - Negotiations between Ukraine and Russia on restructuring of Ukraine's $3 billion eurobonds bought by the National Welfare Fund of Russia will be protracted and contentious, Moody's Investors Service said.

"Although we expect that the Russian bond will eventually be restructured, probably under similar terms as received by other bondholders, any such negotiations are likely to be protracted and contentious," Moody's said in the survey, a copy of which has been sent to Interfax-Ukraine.