Ukraine's Naftogaz asks court to oblige Russia to compensate seizure of assets

Source : 112 Ukraine

Tribunal will deliver the verdict on the case until late 2020
14:16, 31 July 2019

Naftogaz Ukraine enterprise estimated its losses from the annexation of Crimea. The company asks the court to oblige Russia to pay compensation in the amount of $5,2 billion, as the press office of Naftogaz reports.

“Naftogaz Ukraine and enterprises which belong to the group filed a writ on the amount of compensation of damage done by expropriation of the assets of Naftogaz group in Crimea to the Tribunal in Permanent Court of Arbitration in the Hague,” the press office of the company reported.

Related: Naftogaz cuts down gas prices

As we reported earlier, NJSC Naftogaz Ukraine started the process of recovering $2.6 billion from Gazprom (Russia) under the decisions of the Stockholm arbitration within the jurisdiction of Luxembourg. The Arbitration Institute of the Stockholm Chamber of Commerce granted the lawsuit of Naftogaz as to compensation for the volumes of transit gas that had not been delivered by Gazprom on February 28. According to the decision of the court, Naftogaz got a $4.63 billion of compensation for the transit gas that had been agreed on but not delivered by Gazprom.

In May, it was reported that Russia’s Gazprom appealed the decision on the arrest of any debt and asset of the company.

Related: Courts of the Netherlands and Luxembourg make decision against Gazprom, - Naftogaz

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