FT: Ukraine’s ‘you invaded us’ $3bn debt non-payment defence against Russia

Source : 112 Ukraine

“The Russia-Ukraine dispute involves a politically and militarily fraught conflict wrapped in a garden-variety contract dispute governed by English law"
13:48, 28 May 2016


Ukraine has come up with a stinging rebuttal to Russia’s insistence that it repay a $3bn loan that was due last year: if you wanted your money back you should not have invaded our country, the Financial Times reports

That is the essence of what could become lengthy arbitration in London’s High Court this year as the neighbouring countries condense years of conflict into a financial dispute.

Law professors say Ukraine’s defence — detailed in a court filing on Friday — is plausible but if it succeeds in its claim it will be one of the few countries to successfully justify non-payment of debt.

Read the full story here

Related: Russia filed lawsuit against Ukraine over $3 billion debt

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