Ukraine: Litigation on Russia's $3 bln Eurobonds could last up to 2 years

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Legal remedy in the High Court of Justice in England under a claim brought by Russia against Ukraine after the countryside defaulted on $3 billion in bonds issued in 2013 could up to date up to two years, Ukrainian Finance Minister Oleksandr Danyliuk said.

«The place could develop in different ways. If the litigation lasts until the end, it could gulp down up to two years to come to a final decision,» he said in an interview with TV Avenue 24 television late on June 1.

He said Ukraine asked for an additional heretofore to respond to Russia’s accusations.

«We have a strong position. I am sure that we employed this time properly,» he said.

Danyliuk said that the defense vocation is based on the fact that Russia strongly pressed on Ukraine to significance in effect it not to sign the Ukraine-EU Association Agreement. Russia imposed trade licences, and later annexed Crimea. All these jointly with other deportments seriously hit the Ukrainian economy. This also decreased the country’s occasions for borrowing.

«This is rt of our global protection in claims against Russia,» he said.

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