(VOVworld) - Russian Finance Minister Anton Siluanov said on Wednesday that Russia has filed a lawsuit against Ukraine at London's Court of International Arbitration over 3 billion USD loan Kiev has failed to repay. The loan was issued in late 2013 and expected to be repaid by Kiev last December.

Russian Finance Minister Anton Siluanov (Photo: presstv.ir)

Siluanov said that the Ministry had sued after “repeated unsuccessful attempts to encourage Ukraine” to settle in negotiations on debt restructuring.

Moscow wanted Kiev to recognize the loan as the national debt which means restructuring terms for Russia should be better than for those proposed by Ukraine to its private creditors. But the proposal was not accepted by Kiev.

Siluanov expressed his hope that the high court in London would look into the case in an “open and transparent” manner.