UK Supreme Court postpones judgment on so-called "Yanukovych loan" until 2020
The Supreme Court of the United Kingdom has postponed the judgment in a case between Russia and Ukraine regarding the so-called "Yanukovych loan", worth US$3 billion, for 2020.
"At the conclusion of the hearing, the judges reserved their judgment until a later date. The results of the final appeals on Russia's summary judgment application will be announced after the Supreme Court hands down its judgment, likely to be sometime in 2020," the Ministry of Finance of Ukraine said in a press statement.
It is noted Ukraine's legal team conveyed Ukraine's strong legal arguments and presented its legal position to the eminent tribunal of five Supreme Court Justices.
The ministry reiterates the English legal proceedings were brought at Russia's behest in pursuit of a broader strategy of unlawful and illegitimate aggression by Russia against Ukraine. Ukraine reaffirms its commitment to standing firm in the face of this aspect of Russia's aggression.
As was earlier reported, the High Court of Justice in January 2016 began to consider Russia's claim against Ukraine on the latter's eurobonds worth $3 billion. Kyiv considers the loan as the Kremlin's "bribe" paid to the former Ukrainian authorities for rejecting Ukraine's European aspirations. The Russian side insists on the repayment of the loan.
In March 2016, the court approved an expedited consideration of the Russian lawsuit, but Ukraine appealed against the ruling.
In late July, the court satisfied the motion of Ukraine to fully suspend execution of the court decision until the end of the appeal's consideration.
In January 2018, the Court of Appeal postponed the decision for a later date.