On the website of the Ukrainian “Oschadbank” there was a statement about filing a claim in international arbitration against Russia. Ukrainian financial institution demands compensation billion in lost assets in Crimea after joining the Peninsula to Russia. The claim will be considered on an accelerated schedule.
As stated in a published statement, the claim with all the evidence base were sent to international arbitration on Friday, August 26. In the amount of the claim, the Bank’s lawyers included as the cost of the lost assets in Crimea, and the cost of loss of business and interest.
Therefore, the amount of the claim amounted to more than 1 billion U.S. dollars.
“Sberbank” reported that, because the arbitration award does not allocate jurisdiction in a separate proceeding, the claim will be considered on an accelerated schedule.
The final hearing is scheduled for the end of March 2017.
It is also worth noting that “Oschadbank” August 16, has lost in the Kiev claim of “Sberbank of Russia” for the brand of “Sberbank”. However the decision has not yet entered into force, as the Ukrainian Bank has decided to appeal.