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London Court hearing of Russia's $3 bln debt claim to kiev set for Jan 17-20

September 08, 20:16 UTC+3
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MOSCOW, September 8. /TASS/. The hearing of Russia's $3 bln debt claim to Ukraine in the London Court has been set for January 17-20, Deputy Finance Minister Sergey Storchak told TASS Thursday.

"The hearing has been set for January 17-20," he said when asked about the state of Russia’s claim to Ukraine.

In December 2013, Russian President Vladimir Putin and the then President of Ukraine Viktor Yanukovich agreed on a $15 bln loan to be extended to Kiev through placing Ukrainian securities. Under the deal, three-billion-U.S. dollar worth of bonds were listed on the Irish Stock Exchange on December 20, 2013 and acquired by Russia using the funds from its National Welfare Fund.

On December 18, 2015 Ukraine’s government imposed a moratorium on debt payment to the Russian Federation because of Russia’s refusal to sign a restructuring agreement on an equal basis with private creditors as Prime Minister Yatsenyuk said. Meanwhile, on December 17, the board of directors of the International Monetary Fund (IMF) recognized the official status of Russia’s loan to Ukraine as sovereign.

On December 20, 2015 Ukraine failed to make a payment on its debt to Russia. The Russian Finance Ministry filed a lawsuit against Ukraine to London’s High Court of Justice.

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