15:45 03.05.2018

U.S. court suspends consideration of Tatneft claim to recover $144 mln from Ukraine until jurisdiction issue resolved

2 min read
U.S. court suspends consideration of Tatneft claim to recover $144 mln from Ukraine until jurisdiction issue resolved

The District Court of Columbia (the United States) has suspended the consideration of the claim filed by Tatneft (Russia) for recognize and execute in the United States the recovery of $144 million from Ukraine until the issue of jurisdiction is resolved

According to U.S. mass media, the statement of the Ukrainian side dated April 24 brings into a question the jurisdiction of the District Court of Columbia.

As reported, the international arbitration in 2014 ruled in favor of Tatneft and ordered Ukraine to pay the Russian company compensation in the amount of $112 million, as well as interest. In 2017 Tatneft appealed to the courts of the United States, Britain and the Russian Federation with the request to recover $144 million from Ukraine on the case of Ukrtatnafta.

Ukrtatnafta was established in accordance with the decrees of the presidents of Ukraine and Tatarstan in 1994 on the basis of Kremenchuk oil refinery. Earlier, 18.296% of the shares of Ukrtatnafta belonged to the structures close to Tatneft, while the Ministry of Land and Property of Tatarstan owned 28.7788% of the shares, another 8.6% belonged directly to Tatneft. However, as a result of legal proceedings in Ukraine, the share of Tatarstan shareholders in the refinery was practically annulled, and new shareholders close to Privat Group of Ihor Kolomoisky and Hennadiy Boholiubov appeared at the plant.

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