Naftogaz said in the Hague: the losses from the seizure of Russian assets in the Crimea amounted to $8 billion

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“Naftogaz of Ukraine” specified as part of the process in the arbitration court in the Hague, the damage from the loss of assets in Crimea

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“NAK “Naftogaz of Ukraine” and six group companies “Naftogaz of Ukraine” (together Naftogaz) filed a response to counter-statement of the Russian Federation on compensation of damages in the arbitral proceedings at the Permanent court of arbitration in the Hague

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The head of “Naftogaz” Andrey KOBOLEV in March 2019, said that “Naftogaz” has won an arbitration Tribunal in the Hague a lawsuit against Russia for damages in connection with the loss of assets in Crimea

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“Naftogaz of Ukraine” specified as part of the process in the arbitration court in the Hague, the damage from the loss of assets in Crimea, estimated his at $ 8 billion. This was reported by press service of the company on Twitter.

“NAK “Naftogaz of Ukraine” and six group companies “Naftogaz of Ukraine” (together Naftogaz) filed a response to counter-statement of the Russian Federation on compensation of damages in the arbitral proceedings at the Permanent court of arbitration in the Hague. “Naftogaz” has further substantiated his statement of the amount of compensation for damages caused by the illegal expropriation of the Crimean assets of Naftogaz in 2014 – the amount of damages plus interest estimated at approximately 8 billion US dollars”, – stated in the message.

In the Hague declared that the Russian Federation violated a number of provisions of the Agreement on investment protection, expropriated the assets of “Naftogaz of Ukraine” in the Crimea. In December 2019 Russia has counter-sued relative to the size of compensation of losses, but has not stated any alternative calculation of damages. “The Russian Federation agrees that the illegally expropriated assets of “Naftogaz”, but claims he doesn’t have anything to compensate for the “Naftogaz” – said in a statement, quoted by UNIAN.

The head of “Naftogaz” Andrey KOBOLEV in March 2019, said that “Naftogaz” has won an arbitration Tribunal in the Hague a lawsuit against Russia for damages in connection with the loss of assets in Crimea. In June of last year, “Naftogaz” has filed in this court a loss of 5.2 billion dollars, and earlier this year announced its intention to update the assessment.

In September 2017, “Naftogaz” has filed a lawsuit against Russia to the international Tribunal with the requirement to pay damages in respect of loss of assets in Crimea. In the list of assessed property includes production assets of the subsidiary company “Chernomorneftegaz”, gas in underground storage in the Crimea, as well as the assets of other subsidiaries of the “Naftogaz”.

The Ukrainian companies and businessmen has filed eight lawsuits on the protection of investments in the Crimea. In addition to “Naftogaz”, it’s “Ukrnafta”, Oschadbank, “Luksor”, “Stable”, “Everest”, PrivatBank and businessman Igor Kolomoisky. Meanwhile in the Ministry of justice believe that the compensation assigned by international courts on claims of Ukrainian companies in Crimea, much too high, and at a host of arbitration has no jurisdiction to entertain such claims.