According to the Ukrainian Minister of Finance, Alexander Danyluk, proceedings in the debt recovery lawsuit between Russia and Ukraine may continue for up to two years. The case involves $3 billion worth of financial assistance provided to Ukraine while the country was being led by former president, Viktor Yanukovych. Danyluk made these statements during an interview with 24 Channel on the 1st of June.
Danyluk says that “developments may vary. It may take up to two years for the process to come to an end”. Ukraine had applied for additional time to provide a response to Russia’s accusations. “We have a very strong position and I am sure that we used this time properly,” he added.
Ukraine’s line of defense is based on the fact that Russia had exerted pressure and had tried to force Ukraine to withdraw from an EU treaty. Russia also introduced trade sanctions and annexed Crimea, which struck a serious blow to the Ukrainian economy and reduced the possibility of attracting investors. “It is part of our global defense in lawsuits against Russia,” Danyluk said.