Wednesday, February 17, 2016

Russia filed in London’s High Court claim against the Ukraine at $ 3 billion – RBC

Photo: REUTERS 2016

The Russian Ministry of Finance appealed to the High court in London for recover from the debt of Ukraine to $ 3 billion. According to the agency Anton Siluanov, Kiev was not ready for negotiations on the settlement of debt

Russian Ministry of Finance on Wednesday filed a lawsuit against the Ukraine in the High court in London for recovery of debt in the $ 3 billion. this was announced by head of department, Anton Siluanov, reports “RIA Novosti».

The Minister noted that Kiev was not ready to negotiate a settlement of the debt. Title Russian court he called the only way out in this situation. “We have repeatedly stated its readiness to discuss the possibility of a bilateral settlement of the matter out of court settlement of Ukraine’s obligations to Russia. Unfortunately, Ukraine was not ready to negotiate in a spirit of “goodwill”, what it called, not only we, but also the IMF “, – said the head of the Ministry of Finance

Finance Minister said that Russia will be. demand reimbursement of debt on bonds worth $ 3 billion and reimbursement of expenses. According Siluanov, Moscow did not manage to convince Kiev that Eurobonds owned Russian are the official credit and demand for them should be settled on terms better than have been proposed by Ukraine its private creditors.

«I think , litigation in the English courts will be open and transparent, and the protection of rights of the Russian Federation as a creditor will be carried out by an independent, authoritative court, which impartially consider the dispute between the two sovereigns, regarding debt default on Eurobonds, “- said Siluanov. The very fact that the consideration of this dispute in court the finance minister has called “historical precedent».

According to issue terms, Russia could apply to Ukraine in the English national court or to initiate arbitration at the London Court of International Arbitration (LCIA). The arbitration process according to the rules LCIA would allow Russia to rely on the confidentiality of the hearings, materials and even the decision itself, but Russia has made a choice in favor of “open and transparent” process in the English Court, it follows from the statement Siluanov.

Video: RBC

at the same time the Russian side does not rule out of court settlement of the dispute, he said RBC assistant to the Minister of Finance Svetlana Nikitina. “We are ready to negotiate, we have never ruled out of court settlement, if Ukraine will be ready for constructive good faith negotiations, which are still, unfortunately, not there” – she said

Ukraine had to pay off a debt of $ . 3 billion in December 2015, but defaulted. Kiev offered Moscow debt restructuring on the common with private creditors conditions, but Russia has rejected this option, insisting on the sovereign nature of the debt.

1 January Russia’s Finance Ministry announced that Ukraine had not paid $ 3 billion and interest of $ 75 million on eurobonds, and he announced the start of court proceedings. In early February, Russian Finance Minister Anton Siluanov said that Russia has not yet filed a lawsuit to Kyiv. Finance Minister Natalia Yaresko expressed the hope that the question of debt to Russia will be solved out of court.

With the participation of Ivan Tkachev

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