Ukraine submits an appeal against decision on 'Yanukovych loan'

On Friday, the Ukrainian Ministry of Finance submitted the necessary documents on behalf of the State of Ukraine to the English Court of Appeals to initiate an appeal against the decision of the High Court of London on the claim of the Russian Federation against Ukraine regarding Eurobonds for $3 billion.

"Ukraine is confident in the arguments of the appeal and in winning at the Court of Appeal at the appropriate time. The hearing of the appeal is tentatively scheduled for the second half of January,” says the message on the Ukrainian Ministry of Finance’s website.

On March 29, the High Court of London decided to consider Russia's claim against Ukraine in the case of $3 billion in expedited Eurobonds, as requested by the Russian Federation. The Russian Ministry of Finance reported that the court ordered Ukraine to pay off the Eurobonds as well as interest.

After that, the Ukrainian Ministry of Finance announced that the High Court of London had allowed Ukraine to appeal and suspended its decision regarding payment of the debt to Russia.

Ukraine owes Russia $3 billion on controversial bonds. The bonds were issued in late 2013 as part of assistance to the regime of Viktor Yanukovych, in exchange for its refusal of Association with the European Union. Russian President Vladimir Putin promised Yanukovych $15 billion, but because of the uprising in UKraine issued only $ 3 billion.

  Ukraine, court, Yanokovych, Russia, Putin