Ukrtatnafta prepared to compensate gov't for all expenses from Tatneft case

14:29, 18.08.2014 1 min read

Ukrtatnafta (Kremenchuk Oil Refinery, Poltava region) said it was prepared to compensate the government for all expenses connected with the decision of the International Court of Arbitration in the case with Russia's OJSC Tatneft on the ownership rights of Ukrtatnafta.

"At the end of July this year, the international arbitration court in The Hague made a decision on Tatneft's case against the Ukrainian government. Considering the results of the trial, Ukrtatnafta is announcing [its] readiness to compensate the government for all expenses connected with the court's decision," the company said in a statement on its Web site.

Ukraine's Justice Minister Pavlo Petrenko told journalists in Kyiv on Friday that Ukraine had lost its $100 million case before the International Court of Arbitration against Tatneft, and that the country intends to appeal.