Finance Ministry of Ukraine claims Ukraine awaits Russia's next steps in court proceedings

With respect to the claim underway before the English Court relating to the $3 billion Eurobonds held by the Russian Federation, the Claimant, The Law Debenture Trust Corporation Plc, acting at the direction and for the benefit of Russia, had been due to file its Reply to Ukraine's Defence on July 15, 2016.

Instead, the Claimant has notified Ukraine that it will be applying to the Court seeking summary judgment in respect of Ukraine's Defence in the coming days. Ukraine awaits this application and, once received, will be providing its formal response. This application is unlikely to be heard by the Court until late 2016 at the earliest.

In the meantime, Ukraine reiterates the confident belief it has in the merits of its case and its full commitment to contesting vigorously Russia's claim to repayment of this alleged debt in all the circumstances of Russia's egregious and repeated acts of unlawful aggression towards Ukraine.