Ukraine Appeals London High Court Ruling on $3 Billion Debt to Russia

Kiev appealed the ruling of the High Court of London on the $3-billion debt to Russia, according to official statement of the Ukraine's Finance Ministry.

KIEV (Sputnik) — Ukraine has appealed the ruling of the High Court of London on the $3-billion debt to Russia, the Finance Ministry said in a statement Friday.

On March 29, 2017, London’s High Court of Justice decided against holding a full trial on Ukraine's debt as Kiev had no justifiable defense for failing to pay it back. The Russian Finance Ministry said after the ruling that it considered the court's decision as "final and obligatory." Kiev said that it would appeal the decision.

"Today, the Ukrainian Finance Ministry filed on behalf of Ukraine with the British Court of Appeal the necessary documents to initiate an appeal against the court ruling, made on March 29, 2017 by Justice Blair in the lawsuit regarding Eurobonds worth $3 billion [the so-called 'Russian debt']," the statement said.

"Ukraine is confident of the arguments of the appeal and of a victory in the Court of Appeal. The hearing of the appeal is tentatively scheduled for the second half of January 2018," it said.

Moscow filed a lawsuit against Kiev in February 2016 after Ukraine defaulted on paying off a $3-billion loan by December 31, 2015. The loan was granted to Ukraine in late 2013 under then Ukrainian President Viktor Yanukovych.