Five billion per damages in the Crimea: Naftogaz promises to forcibly "knock out" money from

It is noted that the court should confirm the decision of the arbitration tribunal under the permanent chamber of the arbitral tribunal in the Hague, according to which Russia has to pay $ 5 billion (and interest) compensation for losses and the lost property of Naftogaz due to the occupation of Crimea.

Naftogaz emphasizes that, according to the New York Convention in 1958, they have the right to begin the process of recognition and admission to enforcement of the decision in the territory of those states where the assets of the Russian Federation are located. "As Russia has voluntarily paid Naftogaz, the funds provided by the arbitration decision, we intend to use all available mechanisms to recover these funds.

We are now working on this in the United States and other targeted jurisdictions," said Oleksiy Chernyshov. The US law has a rule according to which the arbitration decision is binding, if the court does not establish that there is one of the limited grounds for refusal or delaying the recognition or execution of the arbitration decision set out in the New York Convention.

In this case, the interests provided for non -payment in accordance with the arbitration decision continue to be accrued until full payment of compensation by court decision. We will remind, the arbitration tribunal under the permanent chamber of the Arbitration Court in the Hague on April 12, 2023 obliged Russia to pay $ 5 billion of dollars of "Naftogaz" compensation. It is compensation for the losses suffered by the Ukrainian company after the capture of its assets in the Crimea in 2014.

"It is a matter of compensation for assets aimed at developing gas fields and the development of another strategically important infrastructure, which became one of the main targets of the aggressor during the occupation of the Ukrainian Peninsula nine years ago," said Naftogaz Board. Meanwhile, Focus has already reported that Naftogaz of Ukraine initiated a new arbitration with the Russian gas monopolist Gazprom.