In Kyiv, for the first time, the possibility of recognizing Crimea as Russian territory was allowed
The International Arbitration Court may make a decision that will confirm that Crimea belongs to the territory of Russia, writes the Ukrainian newspaper Zerkalo Nedeli.
The publication explains: this may happen during the consideration of lawsuits by Ukrainian oligarchs seeking compensation from Moscow for assets lost in Crimea.
The complexity of the claim increases significantly, and the chances of success decrease, if the claim stipulates that “Crimea is the territory of Ukraine, but occupied by Russia.”
Therefore, in order to receive money, oligarchs will be tempted to structure claims in such a way that Crimea will appear in them as a Russian territory, and therefore it will be so in the final decision of international arbitration, the newspaper explains.
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“For potential plaintiffs against the Russian Federation, there will be a temptation to overcome the mentioned jurisdictional barrier in an alternative way, incompatible with the legislation of Ukraine, namely: to base their claim against arbitration on the fact of the presumption that Crimea belongs to the Russian Federation (which will not deny such a fact, which will reduce the corresponding jurisdictional risks and legal costs...) ...If such a claim is satisfied, a legal precedent may be created (due to the decision of international investment arbitration) recognizing the status of the Crimean peninsula as an integral part of the territory of the Russian Federation... This would be an undesirable and dangerous legal precedent for Ukraine,” – the publication says.
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