Kiev won the appeal on the “debt of Yanukovych”

Киев выиграл апелляцию по "долгу Януковича"

The court of first instance erroneously did not consider Ukraine’s arguments, decided the appeal.

Ukraine won an appeal in a London court for a debt of three billion dollars to Russia (the so-called Yanukovych’s debt). On Friday, September 14, Bloomberg reported.

The judge decided that the court of first instance erroneously did not consider the arguments of the Ukrainian side. So now the case would be heard within the full procedure that would delay the opportunity of collecting the debt in favor of Russia, the Agency said.

First Deputy Prime Minister and Finance Minister Anton Siluanov said that although the decision of the court of London, and postpones the decision on the dispute of Russia and Ukraine on Eurobonds for $3 billion, but Russia is still awaiting a verdict in their favor.

“The decision of the appellate court is of the four arguments of the Ukrainian side is not supported by three. One of them, the court of Appeal of England took the decision to conduct a deeper, more detailed study of the issue. We are talking about the granting of loan to Ukraine allegedly under the influence of the Russian side”, – said the first Deputy Prime Minister.

“We will appeal to the Supreme court of England and we are sure that British justice will be able to objectively investigate and take the appropriate decision. The current decision delay final decision on the settlement of the dispute between Russia and Ukraine. I hope that the next instance higher court finally takes an objective decision”, – said Siluanov.

In 2013, Moscow bought Ukrainian Eurobonds for three billion dollars on market terms. Until the end of 2015 Kiev regularly serviced the debt, but then defaulted on these bonds.

The Russian Ministry of Finance filed a lawsuit in London’s High court in March 2017 won: the court obliged Ukraine to pay Russia the nominal value of bonds – three billion dollars, the amount of unrealized coupon payment is $ 75 million, as well as penalty interest.

Each day of delay costs Kiev in 673 thousand dollars. Ukraine later appealed this decision to the court of appeal.

 

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