The UK Supreme Court has postponed the ruling in the case of the Ukrainian bonds worth $3 billion indefinitely due to the coronavirus pandemic, the Russian Finance Ministry said, adding that it expects the ruling to be be impartial and non-politicized
MOSCOW (Pakistan Point News / Sputnik - 06th November, 2020) The UK Supreme Court has postponed the ruling in the case of the Ukrainian bonds worth $3 billion indefinitely due to the coronavirus pandemic, the Russian Finance Ministry said, adding that it expects the ruling to be be impartial and non-politicized.
Ukraine's sovereign Eurobonds worth $3 billion were placed in late 2013 in favor of Russia with a yield of 5 percent per annum, which at that time was below the market level. Until the end of 2015, Kiev regularly serviced its debt, but then defaulted on it. The Russian Finance Ministry has been in litigation with Ukraine over this debt for many years.
"In connection with the impact of the coronavirus pandemic on the work of the UK Supreme Court, the terms of the court's verdict both in the Times travel case and in Russia's claim against Ukraine are uncertain," the Finance Ministry said in a statement on Friday.
"We expect the UK Supreme Court to maintain an impartial professional approach when considering this case and will make an impartial, non-politicized decision on its merits," the ministry added.
