Ukraine trying to dodge US$3b loan from Russia

The United Kingdom Supreme Court ruled Wednesday that Ukraine can go to trial to avoid repaying US$3 billion in loans it said it took under pressure from Russia in 2013 to prevent it from trying to join the European Union.

The court rejected a bid by a British company acting on Russia’s behalf to order Ukraine to repay the loans without facing a trial. Ukraine said it borrowed the money while facing the threat of military force and massive illegal economic and political pressure nearly a decade before Russia invaded its neighbour.

Ukrainian President Volodymyr Zelenskyy tweeted that the ruling was “another decisive victory against the aggressor”.

“The court has ruled that Ukraine’s defence based on Russia’s threats of aggression will have a full public trial,” he tweeted. “Justice will be ours.”

The case was first argued in November 2021. Russia invaded Ukraine three months later.