"Yanukovich debt" will be argued in court despite previous decision

Thu, 30.03.2017 11:04

"At the following stages of proceedings in Russia’s claim against Ukraine over the so-called $3 bln Yanukovych debt,” Ukraine will continue defending its case and protecting the state interests consistently using all avenues available to it under English law, the Ministry of Finance reported on its website.

The ministry stresses that despite the fact that the High Court of Justice in London has not supported the position of Ukraine with respect to the so-called Russian debt, it has permitted an appeal. The Judge also granted Ukraine's request for a provisional suspension of execution of the handed down judgment.

“Ukraine respects this decision which was handed down in the context of very complex and uncertain law. Furthermore, we welcome the fact that the Judge has recognised the acts of economic and military aggression that have been perpetrated by Russia against Ukraine and its people on a continued, indeed escalating basis since 2013, as also recognised and condemned by the international community,” the ministry wrote.

The Judge recognised that Ukraine’s case was strong and had merit. Despite this, the Judge found that he was prohibited by English legal doctrine specifically relating to the competence of the English courts to adjudicate in the sphere of high international politics, from taking Russia’s illegal actions and the ‘duress’ by Russia into consideration as part of Ukraine’s defense.

Therefore, the Judge ultimately decided to apply certain technical rules of English law to determine the application against Ukraine. “It is important for us that the English Court has recognized the wrongful and egregious acts perpetrated by the aggressor state against Ukraine and its people,” the report reads.

The Ukrainian side is set to analyze thoroughly consequences of the judgment handed down Wednesday, March 29.

Source: UNIAN

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