Ukrainian Naftogaz: Russia sentenced to compensation of 5 billion dollars
The Ukrainian natural gas company Naftogaz reported that Russia was sentenced to $5 billion in compensation for the illegal seizure of its assets in Crimea.
In a written statement from Naftogaz, it was noted that the Permanent Court of Arbitration in The Hague made a decision in favor of the company on April 12.
In the statement, it was noted that Russia illegally confiscated the company’s assets in Crimea and said: “The amount of compensation that Russia is obliged to pay to Naftogaz for losses arising from the confiscation of our assets in Crimea is 5 thousand millions of dollars”. .
WARNING THAT YOU CAN ALSO SEE THE ASSETS OF OTHER COUNTRIES
In the statement, it was noted that Russia seized natural gas transmission systems, power lines, towers and financial assets belonging to the company in Crimea, and that Russia’s assets in other countries could be confiscated if it does not comply with the decision.
In 2016, Naftogaz filed a lawsuit against Russia in an arbitration court alleging that its assets in Crimea were confiscated. The Russian Ministry of Justice did not participate in the proceedings in question because it did not recognize the jurisdiction of the court. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
