March 29, 2017 / 11:40 AM / 5 months ago

Ukraine to appeal court decision on $3 billion dispute with Russia

A Russian national flag is seen at the roof of the Russian embassy in Kiev, Ukraine, September 18, 2016.Gleb Garanich/Files

KIEV (Reuters) - Ukraine will appeal a decision by a British court in a $3 billion Eurobond case brought by Russia against Kiev, and has been granted a stay at least until late April, Finance Minister Oleksandr Danylyuk said on Wednesday.

The court said Ukraine did not provide a "justiciable defence" and ruled that it would not be right for the case to go to full trial.

The case centres around a $3 billion Russia lent in December 2013 to Ukraine under former President Viktor Yanukovich in the form of a Eurobond governed by English law. Moscow wants the bond to be repaid in full but Kiev insists Russia should have participated in a 2015 restructuring of Ukrainian Eurobonds.

"Ukraine received the judge's permission to appeal," Danylyuk said.

"At the request of the Ukrainian lawyers, the court also agreed to freeze today's decision until the next court session, which will take place no earlier than late April."

Reporting by Natalia Zinets; Writing by Matthias Williams; Editing by Alison Williams/Jeremy Gaunt

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