Ukraine’s state energy group Naftogaz has asked the Hague Permanent Court of Arbitration to force the Russian Federation to pay the Ukrainian company $5.2 billion compensation for assets lost in annexed Crimea.
Russian Fund for the Protection of Investors’ Rights in Foreign States | 14-May-2019
The Fund for Protection of Investors’ Rights in Foreign States sent an notice of arbitration against Lithuania for the illegal expropriation of the Bank “Snoras”, in accordance with the investment agreement between the Russian Federation and the Republic of Lithuania.
EU plans to extend its internal energy market rules to Russia’s Nord Stream 2 natural gas link to Germany could breach the Energy Charter Treaty, which protects international investors, according to the Swiss-registered company building it.
The Permanent Court of Arbitration has announced a partial arbitration decision in favor of PrivatBank and against Russia. The question of the amount of compensation is left for the next stage of the arbitration proceedings.
Ukraine’s Oschadbank has been awarded $1.3 billion by an international arbitration court in respect of the bank’s claims against Russia to compensate for loss of business and assets in Crimea following Moscow’s annexation of the peninsula in 2014.
The move followed a ruling of the Permanent Court of Arbitration that the Russian government must compensate almost two dozen Ukrainian companies for their losses incurred from the illegal annexation of Crimea in 2014.