Ukraine challenges Russia’s claim for $3 bln debt repayment in London court
MOSCOW, May 27 (RAPSI) – Ukraine has filed an objection with the London High Court against Russia’s claim seeking repayment of a $3 billion debt, according to the general statement of the Ukrainian Ministry of Foreign Affairs and Finance Ministry.
Ukraine’s sovereign debt to Russia goes back to a deal concluded by Russian President Vladimir Putin and former Ukrainian President Viktor Yanukovich in 2013. The deal stipulated buying of Ukrainian bonds amounting to $15 billion by Moscow. Russia bought $3 billion on December 20, 2013. Ukraine had to pay the debt by December 20, 2015.
On December 21, 2015, Ukraine fell into default with the debt repayment. In February 2016, Russia lodged the lawsuit against Ukraine.
Ukraine pleaded to the merits stating that the deal is invalid and not enforceable, according to the Ukrainian Foreign Ministry.