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    In this Thursday Nov. 3, 2016 file photo media gather outside the High Court in London

    Ukraine to Appeal London Court Ruling on Russian Debt in June

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    Finance Minister Oleksandr Danylyuk said that Ukraine is planning to appeal the decision of the High Court of London in the case of the sovereign debt to Russia in the beginning of June.

    NICOSIA (Cyprus) (Sputnik) Ukraine is planning to appeal the decision of the High Court of London in the case of the sovereign debt to Russia in the beginning of June, Finance Minister Oleksandr Danylyuk said Thursday.

    "We plan to lodge an appeal in early June," he said, adding that the Ukrainian government will insist on its position.

    "Our position has not changed," he stressed.

    The London High Court ruled in March that the case should not go to a full trial, which is a partial win for Russia, but gave Ukraine the right to appeal.

    The $3 billion sovereign bond 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.

    Russia filed the lawsuit against Ukraine with the court in February 2016, demanding the repayment of the $3-billion principal and unpaid interest accumulated starting from the Eurobond's maturity date in December 2015.

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    debt, Oleksandr Danylyuk, Ukraine, Russia
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