Surprise ruling: Court of London in favour of Russia

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July 27, 2017 – Fort Russ News – 

Politnavigator – translated by Inessa Sinchougova

The Ukraine has tried to evade paying its debts to Russia, by saying that the debt taken on by the previous Ukrainian President was all a sham and a devious plan of the Russian Federation. 

The Ukraine was defeated against Russia in the High Court in London for more than $ 3 billion of “Yanukovych’s debt” (previous president) – a loan that Ukraine received shortly before the start of EuroMaidan, which turned into a coup d’état.

The new Kiev authorities subsequently stated that the Russian loan was “a bribe to Yanukovych for abandoning the policy of European integration”, and therefore Kiev refuses to return the debt to Moscow.

The court in London decided that not only the debt itself must be payed, but also  interest for delay.

Kiev still has a chance to appeal – the meeting is scheduled for January . If Ukraine also loses this time, payment of funds will be enforced.

“The court ordered Ukraine to pay to the Russian Federation the nominal value of the bonds in the amount of 3 billion US dollars, and interest accrued on these amounts. Thus, every day of delay will cost the state budget of Ukraine (Ukrainian taxpayers) more than 673 thousand dollars.”

In addition, the High Court of London ordered Ukraine to reimburse the Russian Federation for part of the costs associated with the legal proceedings in the amount of 2.8 million pounds sterling, 50% of which the debtor must pay no later than September 20, 2017.

Hearings in the Court of Appeal are scheduled for January 2018.

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