03:30 GMT +322 February 2019
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    Kiev Readying for Court After Russia Launches $3Mln Suit on Unpaid Loan

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    Kiev is getting ready for court after Russia launched a suit against Ukraine in London’s High Court over an unpaid $3-million loan, Ukrinform news agency reports.

    KIEV (Sputnik) –Kiev is preparing for court after Russia launched a suit against Ukraine in London’s High Court over an unpaid $3-billion loan, which Kiev believes to have been a "bribe" to former Ukrainian President Viktor Yanukovych, Ukrinform news agency reported the country’s foreign minister as saying.

    On Wednesday, Russian Finance Minister Anton Siluanov said that Moscow had filed a lawsuit against Kiev on Ukraine's debt, demanding to pay back the Eurobond's $3-billion principal and unpaid $75-million December 2015 coupon, as well as interest starting from December 20, 2015 — the bond's maturity date.

    "Of course we’re going to work on proving that this was actually a bribe in both its essence and content. And since the London [High] Court will be reviewing [the case], it will give us additional abilities [to prove this]. We are getting ready and soon all of the appropriate ‘messages’ will be completed," Ukrinform quoted Foreign Minister Pavlo Klimkin as saying.

    The debt was secured by Yanukovych's government in late 2013. Russia has repeatedly stated that Ukraine's failure to pay back the debt by the December 20 deadline should be classified as a default.

    Moscow disagrees with Kiev's stance that the bond is part of an external commercial debt, arguing that the bond is a sovereign loan provided by one country to another.

    Russia has repeatedly warned Ukraine about Moscow's plans to file a lawsuit against Kiev and to claim the debt in full, as well as any related expenses.


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