REVIEW Clause 15-1: The Cancellation Of Existing Ukrainian Debts

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Summary

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- **Debt Forgiveness**: Russia will forgive all Ukrainian pre-invasion debts, including the prominent $3 billion Eurobonds.
- **Historical Context**: The $3 billion Eurobonds were issued in 2013 under a pro-Russian Ukrainian president and later defaulted on by Ukraine.
- **Legal Disputes**: The debt has been the subject of ongoing legal battles in the U.K. courts, with no resolution yet.
- **Mutual Benefits**: Clause 15-1 aims to resolve the debt issue, benefiting both countries by avoiding further legal and financial complications.