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Moscow hopes London High Court will deliver judgement on Ukraine’s debt to Russia soon

May 26, 2017, 20:21 UTC+3

London’s High Court has considered the issue of the amount of interest accrued on Ukraine’s sovereign debt to Russia at supplementary hearings

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© REUTERS/Valentyn Ogirenko

MOSCOW, May 26. /TASS/. London’s High Court considered the issue of the amount of interest accrued on Ukraine’s sovereign debt to Russia at supplementary hearings on Friday, Russia’s Finance Ministry reported on its official website.

Russia’s Finance Ministry expects the Court to deliver a final judgement on the case within weeks, the report said.

"Particularly, the Court considered the following issues: prescribing the procedure of payment and the amount of interest accrued, determining the sum of claim costs to be refunded by Ukraine," the report said.

According to Russia’s finance ministry, the court needed more time to study the positions of the parties and deliver a judgement.

Ukraine’s Finance Ministry said on Friday the High Court in London has postponed the consideration of Ukraine’s application on suspension of the judgement until Kiev’s appeal is considered in the English Court of Appeal.

"The court heard Ukraine’s application for a further suspension of the judgment becoming executable until such time as Ukraine’s appeal to the English Court of Appeal has been concluded, which would not be before 2018. Given the complexity of the involved issues, the judge decided to reserve his judgment. The judge will therefore take some time following today’s hearing to consider matters further, before issuing his decision in due course," the report said.

In March 2017, London’s High Court ruled to hear the case of Ukraine’s $3 billion debt to Russia in an expedited procedure. The court thus upheld Russia’s position on the case’s expedited hearing. The Ukrainian side, on the contrary, insisted on a full-scale judicial process that would include the study of politically-motivated aspects of the case.

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