“Naftogaz of Ukraine” has estimated its losses in the Crimea

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www.vsyako.netPhoto: Ivan Kovalenko / “Kommersant”

Ukrainian “Naftogaz” has submitted to Russia the claim to the Tribunal at the Permanent court of Arbitration in the Hague on compensation for damages in connection with the loss of Crimean assets. “Naftogaz” has estimated the damage at 5.2 billion dollars. This is stated in the company statement.

Ukrainian company applied to the court in late June. It is expected that the Tribunal will make a decision on compensation until the end of 2020.

Earlier, the Tribunal stated that Russia had violated several provisions of the Agreement on investment protection, taking the Crimean assets of Naftogaz. As the Tribunal decided to split the proceedings on the appeal in two stages, the issue of compensation will be considered in the second of them.

Naftogaz has initiated arbitration proceedings against Russia in October 2016 on the basis of the agreement between the two governments on mutual protection of investments. Arbitration initiated by a joint statement of “Naftogaz” and six companies of the group: “Chornomornaftogaz”, “Ukrtransgaz”, “of likvo”, “ukrgazvidobuvannya”, “Ukrtransnafta” and “Gas of Ukraine”.

Video, photo All from Russia.

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