21:34 GMT +325 April 2017
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    Moscow Urges Ukraine to Pay Off Debt to Russia After UK Court Ruling

    © AFP 2017/ VASILY MAXIMOV
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    The Russian Finance Ministry said Wednesday it considers the ruling by the High Court in London concerning the repayment by Kiev of a sovereign debt to Russia as "final and obligatory."

    MOSCOW (Sputnik) — The London court ruled earlier on Wednesday against holding a full trial on Ukraine's outstanding $3-billion debt to Russia as Ukraine had no justifiable defense for failing to pay it back.

    "After reviewing the Russian request for quick hearings of the Russian lawsuit, the High Court in London ruled that Ukraine must pay off the nominal sum of the Eurobonds in the amount of $3 billion, as well as the accumulated interest," the ministry said in a statement.

    "As a result, the court has made the final decision, which obliges Ukraine to pay off the Eurobond debt to Russia in full. No additional hearings on this case by the High Court in London are expected," the statement said.

    The debt was secured by former Ukrainian President Viktor Yanukovych's government in late 2013. Russia has repeatedly stated that Ukraine's failure to pay back the debt should be classified as a default.

    In February 2016, Russia filed a lawsuit against Ukraine at London's High Court of Justice, demanding to pay back the loan.

    Related:

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    debt, Ukraine, Russia
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