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No legal arguments favoring reversal of London court decision on Ukraine's debt — minister

October 10, 16:14 UTC+3

Russia approached the High Court of London with a request to recover the debt from Ukraine in February 2016

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MOSCOW, October 10/. No legal arguments are in place favoring reversal of the decision of the High Court of London binding Ukraine to repay debt on Eurobonds to Russia and compensate legal expenses, Russian Deputy Finance Minister Sergey Storchak told reporters on Tuesday.

"There are no legal arguments in favor of reversal of the decision made the High Court of London. The High Court did not merely made a decision in our favor but did not listen to parties also, understanding that one party is the lender and the other party is the borrower," the official said.

Russia bought Ukrainian Eurobonds worth $3 bln in December 2013 at the expense of resources from the National Wealth Fund.

Ukraine defaulted on Eurobonds in December 2015. Russia approached the High Court of London with a request to recover the debt from Ukraine in February 2016 after numerous attempts to settle the matter out of court.

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