Russia is suing Ukraine for allegedly not paying back $3 billion (£2 billion) worth of debt.

Russia’s finance ministry confirmed in a statement on its website that it had “initiated the procedures necessary for a prompt commencement of court hearings with Ukraine” and that it would file a lawsuit in the English courts.

The court move is somewhat unsurprising, following the range of events that led up to this moment.

Recently, Ukraine installed a moratorium on servicing its debt as it struck a restructuring agreement with all of its creditors apart from Russia. In other words, it just stopped paying back Russia read more >>>

Source : BusinessInsider.Com