China suing Ukraine for breach of $3B loan

This is some new kind of reporting?  The link below is to South China Morning Post and the news item is about China and Ukraine, but instead of direct reporting on the issue, the SCMP has chosen to refer to a news outlet from Russia.  What the heck is going on with the Chinese journalists?  Can't they just go ahead and ask their own officials?

China can whistle for the return of their money all they want, more so now with the new lawmakers and shakers walking the halls of powers in Ukraine, I bet they will have to kiss the money goodbye. As for Canada and the USA, both countries have some lovely friends in the new setup of Ukraine. Ooo la la la!

....China is seeking compensation of US$3 billion from Ukraine for the breach of a loans-for-grain contract signed in 2012, Russian media reported yesterday.

Under the deal, the Export-Import Bank of China provided the loan to Kiev in exchange for supplies of grain.

Citing a Ukrainian parliament official, the ITAR-TASS news agency reported that the State Food and Grain Corporation of Ukraine has used part of the US$3 billion Chinese loan to instead provide crops for other countries and parties, including Ethiopia, Iran, Kenya and Syrian opposition groups.

So far, Chinese importers have only received US$153 million worth of Ukrainian grain, or 180,000 tonnes, the report said.

The report was carried by the Chinese-language service of The Voice of Russia radio. There has been no official comment from China Exim Bank on the report.

The Ukrainian parliamentary official said China has already lodged a case against Ukraine at the London Court of International Arbitration. The report did not mention the date or any further details on the case.

In March, the Worldwide News Ukraine news agency reported that the first half of the Chinese loan was delivered to Kiev, and Ukraine planned then to export four million tonnes of grain last year.

The loan contract stipulated the supply of Ukrainian grain over 15 years. The annual volume of grain exports would vary but would not exceed six million tonnes a year.

The Ukrainian parliament would provide state guarantees for the loan-for-grain contract, the report added.....