France began oral hearings on the suit of the Bank against the Russian Federation due to the loss of property of Bank in the territory of the occupied Crimea after its annexation by the Russians, the press service of the financial institution.
“Sberbank is working hard to form a strong position to fully present her case against the Russian Federation. In the case of more than 4 thousand pages, and the evidence base contains a full and reasoned confirmation of the legal position of the Bank. The claim of the Bank first claim on loss of assets in Crimea, which will be heard not only on the jurisdiction, as well as in fact and loss,” commented Andrew Lush, Chairman of the Board of the Bank.
It is reported that the amount of compensation to be paid in $ 1 billion includes the cost of loss of assets and loss of business.
After completion of the hearing, the Tribunal will proceed to the discussion and decision making.
Recall, Oschadbank has filed a lawsuit against Russia on 26 August 2016.