Oschadbank assesses preliminary losses from occupation of Crimea by Russia at $670 mln – board chairman
The preliminary sum of the claims of Oschadbank (Kyiv) against Russia, due to the occupation of Crimea, total $670 million, Board Chairman Andriy Pyshny has said.
"The very preliminary sum is $670 million. This does not take into account many factors that could considerably expand the claims," he wrote on his Facebook page on Thursday.
The banker said that the satisfaction of the claims will take years.
Pyshny said that Oschadbank’s litigation against Russia is purely commercial and is based on the bilateral agreement signed by the Ukrainian and Russian governments on November 27, 1998.
"Officially it runs like this: Oschadbank acts only at its own discretion as the investor and the legal entity under private law with the purpose of economic protection and restoration of its rights and interests in Crimea," he wrote.
He said that the case is extremely complicated.
"This is an unprecedented dispute. The most complicated and interesting from the legal point of view at the same time. I'm from legal profession and I understand what participation in this case means. These are things of the epoch. However, despite extra complicacy, the truth is ours. I believe in fairness, real justice, my team and our force!" he said.
He said he was certain that the addressees of the notification on the dispute, among whom are the Russian president, prime minister and foreign minister, "will make war with us as they are at the war with Ukraine" using the media, online resources and pro-Russian forces in Ukraine, although he added "we're ready for this."
As reported, on July 8 Oschadbank sent an official notification to authorized representatives of Russia regarding claims stemming from the illegal use of investments of the bank in Crimea in violation of the agreement signed by the Russian and Ukrainian governments on November 27, 1998 and the requirements of international law. The notification was sent to Russian President Vladimir Putin, Russian Prime Minister Dmitry Medvedev and other officials.
On July 8 Ukrainian Prime Minister Arseniy Yatseniuk said that Oschadbank has filed a claim worth UAH 15 billion against Russia for losses caused by the annexation of Crimea.
