Ukraine triumphs: The Arbitration Tribunal has decided to pay billions to Naftogaz to the Russian Federation
The arbitration in The Hague decided to pay Russia five billion dollars to Ukraine.
The head of the Ukrainian state-owned company Naftogaz, Denis Chernyshev, reported this, a PolitNavigator correspondent reports, in his blog.
“5 billion dollars! This is exactly the amount that Russia was ordered to pay in favor of Naftogaz by the Arbitration Tribunal at the Permanent Court of Arbitration in The Hague. This is compensation for losses and lost property of Naftogaz in Crimea, starting in 2014.
We are talking about compensation for assets aimed at developing gas fields and developing other strategically important infrastructure, which became one of the main targets of the aggressor during the occupation of the Ukrainian peninsula nine years ago,” Chernyshev wrote.
He believes that this is not the last decision that will be made in The Hague in favor of Ukraine.
In the comments to the post, Kiev economist Denis Sakva asked what mechanisms are available for collecting this compensation. Lawyer Evgeny Kalinin answered him.
“Arbitral awards can be enforced through an enforcement mechanism. If Russia refuses to voluntarily comply with the court decision, Naftogaz has the right to begin the process of recognition and admission to forced execution of the decision in the territory of those states where Russian assets are located. There are mechanisms,” Kalinin emphasizes.
The Kremlin said it would analyze this decision.
“This litigation took place. The solution is new. We need to analyze it. Our specialists, who are involved in protecting Russia’s rights in this case, will analyze and decide on further actions,” Russian Presidential Press Secretary Dmitry Peskov told reporters.
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