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Kyiv court permits to charge Russia for $1 billion for seizing Ukraine’s bank assets in Crimea

Kyiv Court of Appeal ruled out to exact over a billion dollars from the Russian Ministry of Justice
17:25, 23 July 2019

Open source

Kyiv Court of Appeal granted a motion of Oschadbank on compensation for the damage inflicted by the Russian Federation by the confiscation of bank's assets in Crimea. This is stated in the ruling of the court.

This court decision was made pursuant to the decision of the International Commercial Arbitration of November 26, 2018, on the charging of 1.1 billion dollars from Russia, represented by the Ministry of Justice of the Russian Federation.

Also, the court issued orders of enforcement on the claim of interest from the Russian Federation, accrued by Oschadbank since March 2014.

Related: National Bank of Ukraine begins stress testing of 29 banks

As it was reported earlier, on October 23, 2018, under the procedural control of SAP prosecutors, National Anti-Corruption Bureau (NABU) detectives detained ten people who were served with charge papers concerning embezzling $20 million of Oshchadbank.

On October 25, Solomiansky district court of Kyiv has arrested Iryna Zemtsova, the Deputy Chairman of the Executive Board of 'Oschadbank', in the case of the embezzlement of the state funds of the bank.

Related: Head of bank arrested on suspicion of embezzling 34,000 USD

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