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Yanukovych’s debt: Ukraine voices its position in British court

Source : 112 Ukraine

During the hearing, Ukraine took the opportunity to once again present its legal position on the lawsuit filed against it by Russia in connection with Eurobonds worth USD 3 billion
12:40, 14 November 2021

AFP

The Supreme Court of the United Kingdom has heard the latest explanations from Ukraine in support of its position that USD 3 billion worth of Eurobonds were issued in 2013 as a result of coercion by Russia. This was reported by the Ministry of Finance of Ukraine.

During the hearing in the Supreme Court of the United Kingdom, Ukraine took the opportunity to once again present its legal position on the lawsuit filed against it by Russia in connection with Eurobonds worth USD 3 billion. These Eurobonds were issued in December 2013 in the form of ordinary debt instrument traded on the stock exchange, but 100% of which was repurchased by the Russian Federation, which indicates the extreme uniqueness of the situation.

Ukraine has consistently argued that as a result of Russia’s threats to issue Eurobonds and acts of both economic and military aggression by Russia, Ukraine was deprived of its choice and, as a result of coercion by Russia, Ukraine eventually entered into Eurobond agreements.

Related: Wind in the field. How ex-prosecutor of the Yanukovych era is building the largest wind farm in Europe

Accordingly, Ukraine’s position is that either the bond issue should be declared invalid by a court due to coercion, with the investigation of Russia’s actions in court under the full procedure in open court. Or it would be fair to suspend the proceedings if the English court considers that, for procedural reasons, the court is unable to consider the arguments of Ukraine’s line of defense. This is the position stated by the British Court of Appeal in its very important decision, which was adopted in September 2018.

Earlier, an investigator from the State Bureau of Investigations (SBI), in agreement with a prosecutor of the Prosecutor General's Office (PGO), reported suspicion to ex-President of Ukraine Viktor Yanukovych as the head of an organized criminal group. 

According to the investigation, the group included former officials of the Ministry of Internal Affairs, Security Service of Ukraine and the Armed Forces of Ukraine.

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