Russia Against Postponing Court Hearing on Ukraine's $3Bln Debt

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Ukraine has already twice requested the postponing of a hearing in the High Court of the United Kingdom on Moscow’s suit against Kiev for the repayment of a $3-billion loan, but Moscow is unwilling to approve another stay in the case, Russian Deputy Finance Minister Sergei Storchak said.

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WASHINGTON (Sputnik) – Moscow and Kiev have been at loggerheads after the loan was granted to Ukraine in 2013. Moscow has demanded the repayment of the $3 billion plus $75 million in interest. Kiev has requested to restructure the loan, insisting that it is a commercial loan; however, Moscow says it is a sovereign loan.

“We gave approval once for a stay in the hearing when Ukraine asked, and we met halfway. We didn’t give approval for a second [stay]. The court will have to decide,” Storchak told journalists.

Storchak said the court date is not yet set, but Russia is prepared for an “open hearing” if Kiev is not against it.

“We’re not planning on closing [the hearings]. One of the parties may request to make the hearings non-public, but this is up to the judge,” Storchak said.

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