1 November 2018
The Court of Appeal has ordered that Russia's claim against Ukraine for repayment of sums due on a Eurobond should go to a full trial. The Court rejected most of Ukraine's defences, but it decided that the question of whether Ukraine entered into the relevant agreements under duress required a full investigation of the facts. Beyond the special facts applicable to Russia and Ukraine, however, the decision will give comfort to participants in the sovereign debt markets.
Ukraine and Russia: A phoney war