The recent ruling of the English Court of Appeal supported Ukraine’s position in its dispute with Russia over its $3bn eurobond. This is important for several reasons:
Firstly, it recognizes that events on an international level — the threats and other acts of Russia in its hybrid war on Ukraine — may have a fundamental role when it comes to examining the contractual fabric of states’ relations as a matter of domestic law. Economic, financial, political and military threats and pressure exerted by Russia led to the debt in the first place and have since dramatically reduced the stability of Ukraine and its ability to pay.
