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Wednesday, August 16, 2017

The Ukrainian “Oschadbank” has demanded from Russia $1 billion for Crimean assets

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.

photo: youtube.com

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.

The report said that Russia had previously refused to participate in the first procedural conference on the matter held on July 26.

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.

Their claims of Russia, the Bank was directed in July last year. In January of this year it was reported that the Bank decided to protect its lost in the Crimea investments by arbitration.

Then in the Arbitration court in the Hague against Russia filed claims of Ukrainian PrivatBank, “Ukrnafta”, the airport “Belbek”, Stabil and Everest Estate.

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.

The Ukrainian crisis. Chronicle of events

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