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.
Source: korrespondent
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