15:52 20.02.2018

Court postpones consideration of Tatneft's $112 mln case against Ukraine over Ukrtatnafta to April 24

1 min read
Court postpones consideration of Tatneft's $112 mln case against Ukraine over Ukrtatnafta to April 24

The Moscow Arbitration Court has postponed consideration of Tatneft's $112 million plus interest lawsuit against Ukraine for compensation over Ukrtatnafta until April 24.

"The court considers it advisable to send a query to the Federal Property Agency (Rosimushchestvo) regarding the ownership by Ukraine of property in Russia," the court said.

During preliminary sessions, the parties to the lawsuit continued their dispute over the court's as well as the presence of Ukrainian property in Russia that could be seized under Tatneft's lawsuit.

Tatneft maintains that a portion of the Ukrainian Cultural Center on Arbat Street in Moscow might be subject to confiscation since it is used for commercial purposes. In turn, Ukraine argues that the Cultural Center enjoys diplomatic immunity.

Tatneft began the arbitration process against Ukraine in 2008 in accordance with the Russian-Ukrainian agreement on compensation and mutual protection of investment due to the situation surrounding Ukrtatnafta.

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