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Ukraine Attempts to Return EUR 15 Mln, Blocked for Eurovision Debts

Wednesday, 21 June 2017 17:38

Pursuant to the order of the Cabinet of Ministers, the State Committee for Television and Radio-broadcastingimplements measures on returning EUR 15 mln to the State Budget, allocated by the government as the financial guarantee for holding the Eurovision Contest 2017 and transferred to the European Broadcasting Union, according to the press office of the State Committee for Television and Radiobroadcasting, Ukrainian News reports.

The situation concerning the blocking of the financial guarantee funds was analyzed and the machinery for their return was discussed at the meeting, which was held with participation of the Secretariat of the Cabinet of Ministers of Ukraine, the Ministry of Finance, the Ministry of Economic Development, the Ministry of Information Policy, the Ministry of Culture, the Ministry of Foreign Affairs, NPTU OJSC.

Geneva Debt Enforcement Office sent the message on the blocking of funds due to the third party claim. However, the name of the third party, whose debtor is NPTU, and the actions, as per which the financial guarantee funds were blocked, were not specified. NTPU believes that the blocking can be associated with the court case on the claim of the EuroNews JSC for collection of EUR 10,591,224.48.

NPTU was suggested sending the official petition to Geneva Debt Enforcement Office on debt collection with the request to provide explanations regarding the reasons for blocking Ukrainian funds of EBU’s financial guarantee. In particular, the core element of these explanations should be the information about the third party, as per the request of who the blocking happened.

In addition, NPTU was suggested engaging foreign experts.

The State Committee for Television and Radiobroadcasting suggested that the Cabinet of Ministers should consider the question of partial refund through NPTU’s unused funds (cost saving) under the budget program for holding and preparation of Eurovision. The State Committee for Television and Radiobroadcasting asked CMU to assign the Ministry of Finance and the State Treasury to introduce amendments to ‘month-by-month’ list of the loan repayment to the general fund of the State Budget of Ukraine for 2017, namely – to extend the deadline of repayment of funds, amounting to UAH 450,000.0 ths, from July 2017 to November 2017.  

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