Russia wants to speed up the lawsuit against Ukraine over 'Yanukovych's debt'

Russia has asked the High Court of London to deliver a speedy judgement on the case of “Yanukovych’s debt”. RIA Novosti reported that Russia has already petitioned the court.

The Russian Ministry of Finance stated that “Russia has submitted an application to the High Court of London to deliver an expedited decision on the lawsuit relating to Ukraine’s non-payment of a $3 billion debt”.

The petition was filed by an independent company, The Law Debenture Corporation plc (Trustee), which represents the interests of Russia.

In the appeal, Russia’s lawyers claim that “Ukraine has included a number of exclusively political arguments in response to the claim. They are not relevant to the Trustee’s requirement to fulfill the debt obligations, and also often do not correspond to reality”.

Russia expects that the hearing of the request will be held at the end of 2016.

“Conducting a full trial will no longer be required if the court agrees. The final decision on the merits can be made at the beginning of 2017,” the publication reports.

On the 17th of February, Russia filed a lawsuit against Ukraine with the High Court in London to recover a $3 billion debt.

As previously reported, Ukraine declared a moratorium on the payment of all Russian debts, including the debt made by Azarov’s government in 2013 in the amount of $3 billion, as well as the debts of the State Road Agency of Ukraine (UkrAvtoDor) and Yuzhnoye State Design Office.

In January of this year, Ukraine agreed with Sberbank of Russia on the restructuring of the loans of the State Road Agency of Ukraine (UkrAvtoDor) and of the Yuzhnoye Design Office.

  Ukraine, Russia, Yanukovych