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Court in the Hague refuses to review PrivatBank Crimean action

The arbitration case was started on April 13, 2015 due to Russia's violation of the obligations regarding the PrivatBank on assets in Crimea under the Agreement on promotion and reciprocal protection of investments concluded between Ukraine and the Russian Federation
18:58, 13 September 2019

politeka.net

The Permanent Court of Arbitration in the Hague refused the Russian Federation to review issues related to the questions of jurisdiction and violations of obligations on the PrivatBank action within lost assets in Crimea. This the UNN News Agency reported. 

"PrivatBank is glad to inform that the Permanent Court of Arbitration in the Hague in the case concerning investment protection against the Russian Federation refused Russia to review the solved issues related to the questions of jurisdiction and violations of obligations, as it is stated in the interim arbitral award as of February 24, 2017 and partial arbitral award as of February 4, 2019," says the message.

Related: Zelensky on PrivatBank: I will only protect state and citizens

It is noted that the action to arbitration was started by PrivatBank on April 13, 2015 due to Russia's violation of the obligations regarding the PrivatBank on assets in Crimea under the Agreement on promotion and reciprocal protection of investments concluded between Ukraine and the Russian Federation. Russia did not participate in the case until the judgment of the Arbitral tribunal. Now the Russian Federation has appointed its own representatives in the court and the investigation will move to the next phase. 

Related: Zelensky wants to sell state-owned banks: What will happen to Privatbank and Oschadbank?

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