Nafttogaz took the first step toward forced implementation of the arbitration decision. The company has registered Encumbrance to a number of possessions of the Russian Federation in France with a total value of more than 120 million euros.
The Paris court granted permission for the implementation of the Hague arbitration decision on compensation for losses caused by illegal expenditure of the property of the Naftogaz group in Crimea for $ 5 billion. This was reported by the Naftogaz press service on Thursday, April 17.
“This result is part of our global campaign to implement the arbitration decision,” Roman Chumak, head of the Ukrainian company, commented on the court’s decision.
According to him, this decision allowed Nafttogaz to start the recovery procedure in France.
Nafttogaz took the first step toward forced implementation of the arbitration decision. As part of this process, the company has already registered Encumbrance on a number of properties belonging to the Russian Federation and located in France, with a total value of more than 120 million euros.
“We have some successes in many other constituents, especially in the UK and Finland. We have configured to regain the full amount of compensation and protect the rights of Ukrainian state businesses in the international arena,” Chumak said.
Note that in October 2016, Naftogaz began arbitration proceedings against Russia, demanding compensation for the illegal seizure of the group’s ownership in Crimea.
After a long -term arbitration trial in April 2023, the Hague tribunal ordered Russia to pay Naftogaz for more than $ 5 billion.
Recently, the Supreme Court of the Kingdom of the Netherlands rejected the CASSATION of the Russian Federation to cancel the tribunal’s partial decision on the scope and the essence of the case.
Despite the arbitration decision and the Supreme Court’s decision of the Netherlands, Russia refused to pay Naftogaz a awarded amount. Therefore, Naftogaz started an international collection campaign. The main goal is to ensure the implementation of an arbitration decision on the constituents where Russia has the owners.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.