International Legal Aspects of the Regulation of Ukrainian Debt to The Russian Federation

The article considers the dispute concerning the Russian-Ukrainian debt constituting the sole precedent that involves the Russian Federation. This debate reveals a lot of problems of modern legal regulation of debtor-creditor relations between States, in particular the application of State immunity in light of the debtor-creditor relations; restructuring of "debt" transactions by issuing bonds; legal consequences of failure to pay the debt; the problem of enforcement of court decisions in debt disputes. The author makes a thorough analysis of legal causes and aspects of Ukrainian debt settlement. The article presents a review of concepts of "odious debt," "doctrine of impracticability" and "doctrine of interference," and raises the question of admissibility of using the terms mentioned above in international debt and economic law science.

International debt law, dispute of Russian-Ukrainian debt, reservation on collective actions, Drago doctrine, impracticability, obstructing, odious debt, restructuring, insolvency of States, failure to pay the debt, bonds prospectus

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