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Russian Finance Ministry Hopes London Court Expedites Hearing on Ukraine's Debt

© Photo : PixabayThe Royal Court of Justice, London
The Royal Court of Justice, London - Sputnik International
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London High Court of Justice is scheduled to wrap up the four-day hearing on Friday. The Russian Finance Ministry said "practice shows the court can take from one to three months to render a verdict."

A worker of Russian gas and oil giant Gazprom works on February 18, 2015 in Novoprtovskoye oil and gas condensates oilfield at Cape Kamenny in the Gulf of Ob shore line in the south-east of a peninsular in the Yamalo-Nenets Autonomous District, 250 km north of the town of Nadym, northern Russia - Sputnik International
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MOSCOW (Sputnik) The Russian Finance Ministry said Friday it hoped that London's High Court of Justice would grant Moscow's petition to expedite a hearing on Ukraine's $3-billion Eurobond debt to Russia.

"We are confident that the defendant's argument does not hold water, and look forward to an early decision to uphold Russia's motion to expedite hearings of the claim filed against Ukraine," the ministry said.

The London High Court of Justice is scheduled to wrap up the four-day hearing on Friday. The Russian Finance Ministry said "practice shows the court can take from one to three months to render a verdict."

Russia filed the lawsuit against Ukraine with the court in February 2016, demanding the repayment of the $3-billion principal and unpaid interest accumulated starting from the Eurobond's maturity date in December 2015.

The debt was secured by former Ukrainian President Viktor Yanukovych's government in late 2013. Russia has repeatedly stated that Ukraine's failure to pay back the debt by the December 20, 2015, deadline should be classified as a default.

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