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London court hands down first decision on $3bn Ukraine’s debt to Russia

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London court hands down first decision on $3bn Ukraine’s debt to Russia

Today, London's High Court ruled to consider on an expedited basis the case of Ukraine's debt to Russia in Eurobonds estimated at $3 billion.

As news agencies reported, in its decision the court upheld a motion brought by the Russian Federation on consideration of its claims without a full trial and pleadings. However, according to some lawyers, further hearings may take from six to nine months.

We should remind you that the Eurobonds of Ukraine in the amount of $3 billion were placed in Russia's favor at the end of 2013. Until the end of 2015, Kiev regularly serviced the debt, but later declared a default and offered Moscow to restructure the debt under general conditions as for commercial lenders.

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