Ukraine has lost an international court for $ 12 million

International arbitration court on Monday ordered Ukraine to compensate the British company JKX Oil & Gas about $ 12 million of losses that it incurred as a result of violation by Kiev of the agreement with great Britain for the protection of investments, according to the website of the London stock exchange.

“As reported JKX Oil, the court ruled that the Ukrainian government has violated the elements of the bilateral investment agreement between the UK government and the government of Ukraine, and recognized the damage JKX in the amount of $ 12 million”, — stated in the message of 6 Feb.

British oil and gas company JKX Oil & Gas Plc operates in Ukraine, Russia, Hungary, Bulgaria and Slovakia. In Ukraine, it belongs to the “Poltava petroleum company”, as well as four licenses to develop oil fields Ignatovskoye, Molchanovskoye, Novo-Nikolayevskoye and Rudenkovskoye in the Poltava region. Co-owner of the company is the Ukrainian businessman Igor Kolomoisky.

In mid-February 2015 JKX has initiated arbitration proceedings against the Ukrainian government, accusing him of violating the Energy Charter Treaty and bilateral agreements on investment protection concluded between Ukraine and the United Kingdom and the Netherlands. The company sought compensation for the losses they incurred due to the violation of Ukraine’s Treaty obligations. In particular, JKX has made payment of the rental payments in the amount of about $ 180 million that the company paid for the ability to produce oil and gas in the country since 2011.