HomeEconomyThe Russian Federation lost...

The Russian Federation lost the cassation case against Naftogaz regarding seized assets in Crimea

Photo: Naftogaz

The court ordered Russia to pay $5 billion in compensation for losses caused by the seizure of Naftogaz’s assets in Crimea.

The Supreme Court of the Netherlands refused to satisfy Russia’s cassation appeal to cancel the decision to pay the losses for the confiscated properties of Naftogaz in Crimea. The press service of Naftogaz reported this on Friday, December 13.

Thus, for the second time, the Dutch courts have finally confirmed the legality and validity of the Partial Award of the Arbitration Tribunal at the Permanent Court of Arbitration in The Hague.

“The decision of the Supreme Court strengthens the position of Naftogaz Group in the enforcement proceedings to collect a debt from Russia for the illegal seizure of properties in Crimea… Naftogaz is on the path to restoring justice ,” commented Roman Chumak, acting chairman of the NAC board.

Let’s recall that in the spring of 2023, the Arbitration Tribunal at the Permanent Court of Arbitration in The Hague ordered Russia to pay Naftogaz $5 billion as compensation for the losses caused by the seizure of the assets of group companies in Crimea. In addition, the Russian Federation shall reimburse the company for the costs associated with these arbitration proceedings.

Naftogaz filed a lawsuit against Russia in an international court in 2016. In June 2023, Naftogaz and five other group companies went to a US court to recover these funds from Russia.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...