The International Chess Federation (FIDE) has suspended cooperation with the Ukrainian Chess Federation because of the latter's debts, the FIDE said in an announcement on its website.

"Following the decision of the FIDE Presidential Board at its meeting in Moscow, March 28-29, 2016, the services for the Ukrainian Chess Federation are temporarily suspended, as the full amount in respect of the Women's World Championship match in Lviv has not been paid within the set deadline," the announcement reads.

According to Ukrainian media, the Ukrainian debt is estimated at EUR 60,000.

Following a game in Lviv in March, Ukrainian chess player Mariya Muzychuk lost the title of world champion to Chinese player Hou Yifan.

Lviv local online edition Gal-info said tournament participants were promised high fees: EUR 120,000 for a win and EUR 80,000 for participation. But the chess players have not yet been received their money because Ukraine has failed to pay EUR 60,000 to the FIDE.

Of the planned budget of the match for the world chess crown, FIDE received EUR 345,000 out of EUR 405,000.

"We are concerned about this situation. After all, the city [of Lviv] for its part has invested UAH 7.1 million while [Lviv] region has given UAH 5.1 million. But the Ukrainian Chess Federation has not invested a single hryvnia. We do not understand why it has not paid this sum yet," Lviv's Deputy City Chairman Andriy Moskalenko said.

The Ukrainian Chess Federation represented by its president, Viktor Kapustin, posted an official letter on its website, saying that the remaining EUR 60,000 should have been financed by Lviv City Council, rather than the Ukrainian Chess Federation.