The Ministry of Finance: London’s High court has ordered Kiev to pay Russia $ 3 billion

Moscow, July 26 – AIF-Moscow.

The Finance Ministry reports that London’s High Court has clarified the decision dated 29 March 2017 made in Russia’s favor on the claim for debt of Ukraine in the amount of three billion dollars.

In a press-service of the Department clarify that the court ordered Ukraine to pay Russia the nominal value of the bonds for three billion dollars, the coupon payment in the amount of $ 75 million and penalty interest on these amounts.

When Ukraine will return to Russia $ 3 billion on the debt?

“The interest on the principal amount of the bonds shall be payable at the rate of 8% per annum interest on the amount outstanding coupon rate of three-month LIBOR in us dollars plus 2% per annum” – reads the statement of the Ministry of Finance.

Penalty interest is calculated from 21 December 2015. Each day of delay will cost the state budget of Ukraine more than 673 thousand dollars.

Also Kiev is obliged to reimburse the Moscow-related litigation costs in the amount of 2.8 million pounds. Half of this amount, Ukraine has to pay not later than September 20, 2017.

The requirement of the Russian Federation concerning payment of Ukraine the rest of the costs incurred because of a debtor’s obligations on the bonds, will be considered after decision on appeal of Kyiv on the decision of the High Court of London. The appeal will be reviewed in January 2018.

“In the short time remaining before consideration of the appeal, the High Court in London extended until the expected verdict on appeal the validity of the previously adopted resolution, which excludes the possibility of adopting coercive measures to return Ukraine borrowed funds”, – the press service of the Ministry of Finance.

The Russian Agency believes that established by the court facts will be a sufficient basis for the approval of the court of appeal verdict in favor of the Russian Federation.

official channels

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