Friday, January 1, 2016

Russia announces lawsuit against Ukraine over default on $3-bn debt

Russia's finance ministry said Friday it was suing Ukraine for defaulting on a $3-billion debt to Moscow, following an order by President Vladimir Putin.

Kiev is "in a state of default" regarding its obligations toward Moscow and legal proceedings would ensue, the ministry said.

"Russia's finance ministry (...) has initiated procedures required for an immediate lawsuit against Ukraine," the statement said, adding that the lawsuit would be heard in a British court.

Ukraine announced last month it would not make the payment on its debt to Moscow after Putin vowed to sue Kiev if it failed to pay by the end of 2015.

The debt stems back to 2013 when Russia loaned $3 billion to the Kremlin-backed president Viktor Yanukovych, before pro-European protests that led to his downfall...

  • Ukraine on Thursday gave Russia two weeks to accept to write off part of its loans to the country, as other international creditors have agreed to do, opening a new front in the show-down between the countries... 

No comments:

Post a Comment

Only News

Featured Post

US Democratic congresswoman : There is no difference between 'moderate' rebels and al-Qaeda or the ISIS

United States Congresswoman and Democratic Party member Tulsi Gabbard on Wednesday revealed that she held a meeting with Syrian Presiden...

Blog Widget by LinkWithin