OREANDA-NEWS. The UK Supreme Court begins hearings on a dispute between Russia and Ukraine on Kiev’s outstanding Eurobonds of $ 3.075 billion ($ 3 billion of principal, plus a coupon of $ 75 million). The first meeting will be held on Monday from 11:00 local time (14:00 Moscow time). The hearing will last four days - until December 12, follows from information on the court’s website.

The decision based on the results of the hearings is likely to be made in 2020. The interests of the Ministry of Finance of Russia in this matter are represented by the international law firm Cleary Gottlieb Steen & Hamilton. The Supreme Court of Great Britain is the highest court in the United Kingdom. It was created in 2009. The case of Russia against Ukraine will be examined by five judges, headed by the deputy chairman of the court, Lord Robert Reed, who will become chairman of the Supreme Court from January 2020.

The dispute has been going on since December 2015, when Ukraine refused to return to Russia $ 3 billion in Eurobonds, which were issued by the administration of ex-president of Ukraine Viktor Yanukovych in December 2013 and were completely bought out by the Russian sovereign fund.