International court of arbitration in the Hague began its consideration of the application of “Naftogaz of Ukraine” to the Russian Federation concerning compensation for assets lost as a result of the annexation of Crimea. This is evidenced by information about cases on the website of the arbitration.
The arbitration claim was registered by the court on 17 October 2016. International arbitration is already in the process of appointing arbitrators.
Russian Federation in a letter dated 19 January 2017 indicated that they do not recognize the jurisdiction of International arbitration for the settlement of claims of Naftogaz and appointed its representatives in the arbitration process.
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Recall, 17 October 2016, “Naftogaz of Ukraine” and its six subsidiary companies initiated arbitration proceedings against the Russian Federation with the requirement to pay damages. According to the state holding, we are talking about the property of NJSC “Chornomornaftogaz”, “Ukrtransgaz”, “Ukrgazdobycha”, “Ukrtransnafta”, “Gas of Ukraine” and “of likvo”.
Naftogaz previously estimated the damage of the group is 2.6 billion dollars.
