Russia to lose case over $3 mln Eurobond repayment – Bloomberg

22.12.2015 11:11 863

The Russia’s lawsuit, filed with the international court to make Ukraine repay its $3 million Eurobond, could be rejected if a judge determines that Russia already had plans to annex Crimea when the bond documents were drawn up.

Mitu Gulati, a law professor at Duke University, said this in an interview with Bloomberg.

Other experts are also skeptical about Russia's success at the planned trial. It is noted in the article that it will be difficult to order to collect the so-called "debt of Yanukovych" even if Moscow wins the case. However, Russia will try to take control of the Ukrainian assets abroad through trials in specific countries.

Andrew Wilkinson, a partner at law firm Weil Gotshal & Manges LLP who worked on drafting Ukraine’s restructuring documents, said: "legally, Russia’s options are very limited if it wants to get its money back."

"If Ukraine defaults on $3 billion in bonds to Russia, it will not lead to the termination of the IMF program. Moscow said it would file the lawsuit. I do not know what the result will be, but it is difficult to understand why Ukraine has to pay, taking into account the Russian aggression in Donbas," former U.S. Ambassador to Ukraine, the expert of the Brookings Institution, Stephen Pifer said.

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