The High Court of Justice in London has approved a petition of Ukraine to suspend the execution of the decision made on March 29, 2017 regarding $3 billion eurobonds bought by Russia, the Finance Ministry of Ukraine has reported on its website.

The ministry said that at a hearing before Mr. Justice Blair in the High Court in London on May 26, 2017, the Judge considered various outstanding matters that follow on from the summary judgment decision issued by the court on March 29, 2017.

"In particular, the Court heard Ukraine’s application for a further suspension of the judgment becoming executable until such time as Ukraine’s appeal to the English Court of Appeal has been concluded, which would not be before 2018… The Court accepted Ukraine’s position and granted a further suspension of the judgment until Ukraine’s appeal has been concluded," the ministry said.

Also of importance, at this hearing the English Court confirmed - contrary to efforts by Russia to impose onerous conditions upon Ukraine’s appeal rights - that unconditional permission has been given to Ukraine to appeal against the judgment to the Court of Appeal.

"Indeed, in his latest Judgment Mr. Justice Blair recognised that this was clearly a case where the threshold conditions for permission to appeal were satisfied, namely that the appeal had a real prospect of success," the ministry said.

The court also refused the Trustee's request for security for costs, and agreed with Ukraine's position that the question of the reimbursement of the Trustee's costs of the proceedings must be subjected to detailed scrutiny by the Court, which will not take place until after Ukraine's appeal has been concluded.