London, United Kingdom. One might not think London has a lot to do with Kiev or Moscow, but because neither side trusts the other, a lot of their “mama drama” court cases end up here.
The government of Russia demanded on Friday that Ukraine should pay $325 million now while awaiting the outcome of a legal dispute over $3 billion lent by Moscow to Kiev in 2013. Russia demanded the funds in a London court, saying the sum represented the interest it would have received by now if it had participated in a 2015 restructuring of Ukrainian debt.
The British Judge William Blair deferred his ruling, which will also include a decision on the rate of interest and the legal costs to be paid by Ukraine. So for now Ukraine is out $325 million dollars and headed for the “lightning round” where the scores can change from that $325 million to the actual $3 billion Moscow is owed, depite Ukraine’s disgusting feeble attempts to delay justice.
The $3 billion was lent in the form of a Eurobond governed by English law. The loan was made in December 2013, weeks before pro-Moscow Ukrainian president Viktor Yanukovich was ousted in a popular uprising.
Russia wants the bond to be repaid in full but Ukraine, acting upon neocon advisers committed to screwing Russian for financial gain are telling the Ukrainians not to pay Russia anything and to just blame them with Donbass or Crimea and just claim you won’t pay, until Russia gives back the two break away regions.
After considering these Russian arguments, Judge Blair ruled in March that Ukraine had failed to offer a court-ready defense for not paying back the $3 billion, and declined to forward the case to a full trial. Ukraine then won a temporary reprieve when it was granted permission to appeal.
Russia’s lawyers wrote: “The mere fact that a party may have reasonable prospects of overturning a decision does not mean that the party is not obliged to comply with the court’s orders prior to that appeal being determined… It cannot have its cake and eat it.”
For now the “debt wars” between the two nations continue, just as mortars, bombs and bullets rain down upon Donbass daily. One senses there truly will never be a reconciliation between the two sides that were once part of the same side.