Russia promptly asked to consider a claim for the debt of Ukraine to $ 3 billion – RBC

View on the building of the High Court of London

Photo: Reuters / Pixstream

Russia represents the interests of the company appealed to the High court in London with a request to quickly consider a claim for the debt of Ukraine $ 3 billion in 2013, the FNB bought. Ukrainian bonds, but Kiev refused to pay the debt

Independent company The Law Debenture Corporation Plc, representing Russian interests, filed in London’s High court application for making expedited decision on the claim of the debt of Ukraine to $ 3 billion. this is stated in a press release published on the website of the Russian Ministry of Finance.

The department said that the Russian side demanded disallowing a review of Ukraine to the claim and make a decision that would force Kiev to pay the nominal value of the bonds, the amount of unrealized coupon payment in the amount of $ 75 million and interest on arrears of debt.

As recalled in the Finance Ministry, Ukraine has recognized that it is not made payments on the bonds when due. “The Ukrainian side argues that the release of these sovereign bonds have never been properly authorized by the executive and legislative authorities of Ukraine”, – explained in the department. At the same time in Moscow believe that such statements “do not correspond to both the public statements of Kiev, made during the bond issue and its practical actions».

The Russian side also felt that the Ukrainian response to the claim is present ” series exclusively political arguments “that are not related to the requirements for payment of debt. “Moreover, the Ukrainian side insists that the political circumstances give grounds for Ukraine’s liberation from obligations to repay the debt,” – concluded the Ministry of Finance

Moscow believes that the High Court in London will decide expedited review of the claim until the end. 2016. If the petition is granted, the final decision on the merits of the claim can be made in early 2017.

In December 2013 Ukraine issued a two-year Eurobonds for $ 3 billion at 5% per annum. National Welfare Fund (NWF) on the orders of Russian President Vladimir Putin.

Ukraine required debt restructuring, and then in December last year imposed an indefinite moratorium on the payment of the debt. In Kiev, stated that the agreement in 2013 consisted of duress on the part of Russia. The authorities explained that Moscow put pressure on Kiev to prevent the conclusion of an association agreement with the EU. Foreign Ministry called the purchase of bonds of “bribe” the ex-president Viktor Yanukovych.