09:58 12.11.2021

Ukraine again presents its position in dispute with Russia over $ 3 bln eurobonds to Supreme Court in London

2 min read
Ukraine again presents its position in dispute with Russia over $ 3 bln eurobonds to Supreme Court in London

The Supreme Court in the UK has heard the latest explanations from Ukraine in support of it that the $ 3 billion eurobonds were issued in 2013 as a result of coercion by Russia, the Ukrainian Finance Ministry has said.

"Ukraine remains confident in the positive outcome of the case, initiated as one of the elements of the general strategy for the implementation of aggression by Russia against Ukraine, which Russia continues to implement today," the release says.

According to the report, the Supreme Court is expected to finalize the preparation of the decision after the hearing on Thursday and move on to deliver it.

The Ministry of Finance clarified that during the hearing, Ukraine took the opportunity to once again present its legal position in relation to eurobonds, 100% of which were purchased by the Russian Federation, which indicates the extreme exclusivity of the situation.

"Ukraine has consistently argued that, as a result of Russian threats before the issuance of eurobonds, and the acts of both economic and military aggression by Russia, Ukraine was deprived of the right to choose and, due to coercion by Russia, Ukraine eventually entered into agreements on the issue of Eurobonds," the Ukrainian department said.

It pointed out that Ukraine's position is that the bond issue should be declared invalid by the court because it was carried out under duress, with the investigation into Russia's actions in full procedure in open court. Or it would be fair to stop the proceedings if the English court finds that, on procedural grounds, the court is unable to consider the arguments of Ukraine's defense, the Ministry of Finance indicated the second possible outcome of the case.

"This is the position stated by the English Court of Appeal in its very important decision, which was made in September 2018," the Ukrainian department recalled.

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