In 2013 Russia lent Viktor Yanukovych, Ukraine’s then-president, $3 billion in the form of a bond structured under English law. Following his toppling, and the resulting war in eastern Ukraine, the money was never paid back. In a hearing expected to begin on Jan. 17 in London, Russia is trying to recover the debt.
On moral grounds, Ukraine is in the clear: Russia has done its best to destabilise the Ukrainian economy, slapping on sanctions, turning off gas and supporting rebels. On legal grounds, however, things look more difficult.
