Naftogaz wins Hague Tribunal against Russia

Source : 112 Ukraine

The sum of the compensation will be reported soon
14:29, 1 March 2019

Associated Press

Hague Tribunal made a positive decision in the case of Naftogaz against Russia for the lost assets due to Crimea’s annexation, as the press office of the company reported.

It was noted that the sum the company would receive remains unknown; it will be reported any time soon. Naftogaz demanded Russia to compensate $5 billion and the interest.

“This is a very important victory which allows bringing the aggressor to justice for the stolen assets. Thanks to the actions of the international community and Ukraine, the price for Russia’s occupation of Crimea will be increasing. The decision of the Tribunal is an important step on this path,” Andriy Kobolyev, Naftogaz CEO stated.

Related: Ukraine's Naftogaz supervisory board extends contract with Kobolev

It should be noted that after Crimean peninsula was annexed, Naftogaz lost infrastructure for gas and oil supply, including drilling rigs on the shelf of the Black Sea, compressor and other stations. The “authority” of the annexed Crimea “nationalized” all this property after the occupation.

Russia occupied the Autonomous Republic of Crimea in 2014. 

The Verkhovna Rada of Ukraine officially proclaimed February 20, 2014, the day of the beginning of the temporary occupation of Crimea and Sevastopol by Russia.  

Related: Naftogaz to terminate contract with UkrGasVydobuvannya in March

The main international organizations, including the UN General Assembly, condemned actions of Russia, called the annexation and occupation of Crimea illegal. Sanctions have been imposed against the Russian Federation.  

Arbitral tribunal at the Hague in May of 2018 ruled that the Russian Federation has to compensate a number of Ukranian companies for the annexation of Crimea. 18 Ukrainian companies and one individual sued Russia. 

Related: Naftogaz Ukraine ready to set counters under some conditions

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