REVIEW: Cancellation Of Debts

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Summary

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This passage spotlights the **$3 billion Eurobond loan** Russia made to Ukraine in 2013 and its tangled aftermath, while proposing **debt forgiveness** as a strategic demand under the **CUTTR Plan**:

**Background: A Disputed Debt**
- In 2013, Russia lent Ukraine $3B via **Eurobonds under English law**.
- Following Russia’s annexation of Crimea in 2014, Ukraine **ceased payments**, claiming coercion.
- A legal battle ensued in **UK courts**, yielding mixed rulings as of 2019, with no final resolution.

**CUTTR Plan Proposal**
- Ukraine proposes **cancellation of the $3B debt** as part of Crimea’s formal sale.
- This debt write-off is framed as:
  - A **sunk cost** for Russia
  - The **monetary price** for legitimizing its control over Crimea

**Benefits for Both Sides**
- **Russia** secures undeniable legal ownership of Crimea in exchange for forgiving an already contentious, likely uncollectible debt.
- **Ukraine** gains freedom from the obligation, enabling:
  - **Cleaner access to international bond markets**
  - Improved borrowing terms without the overhang of default

This demand blends financial settlement with geopolitical resolution, turning a legal standoff into a building block for peace. 

References

See Cancellation Of Debts.