Naftogaz sues Russia for USD 5 bln in losses from Crimean asset loss
20 September 2017
Ukraine natural gas holding Naftogaz and its
subsidiaries filed a claim in the international court in the Hague against the
Russian government demanding the compensation of losses from the illegal
seizure of assets in Crimea, the holding reported on Sept. 19. As of now,
Naftogaz’s total losses are estimated by experts at USD 5 bln, the holding
said. The court ruling on that case is scheduled for the end of 2018. According
to Naftogaz, seven claims have been already filed against Russia’s
expropriation of assets in Crimea, including the claims of Privatbank (PRBANK),
Oschadbank (OSCHAD), Ukrnafta (UNAF UK) and businessman Igor Kolomoisky.
Alexander Paraschiy: We expect most of claims of Ukrainian entities will be successful,
though the timing of court decisions is rather far off. Nevertheless, all this
will only escalate Russia’s costs of its illegal occupation of Crimea and could
allow some of Ukraine’s biggest companies to receive additional resources to
fund their development.
though the timing of court decisions is rather far off. Nevertheless, all this
will only escalate Russia’s costs of its illegal occupation of Crimea and could
allow some of Ukraine’s biggest companies to receive additional resources to
fund their development.
