Ukraine's debt to Russia disputed in London court

RUSSIA / FSU POLITICS - In Brief 11 Dec 2019 by Alex Teddy
On December 9 the UK Supreme Court heard arguments about whether Ukraine had to repay a USD 3 billion loan to Russia. The debt matured in December 2015 plus interest. Ukraine maintains it ought to be allowed to challenge the debt. The Court of Appeal found in favor of Ukraine. The issue has been sent up to the Supreme Court. The debt is a Eurobond, and the agreement was signed to be governed under English law. Ukraine had wanted Russia to restructure the loan. But as relations between the two countries are bad, Russia refused. Ukraine's argument is that the loan was agreed under duress in 2013, with Russia threatening to wreck the economy. The debt agreement was signed by Ukrainian President Yanukovich, who was pro-Russia.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.