11:43 11.05.2018

Court of arbitration in The Hague could issue award on merits in lawsuit against Russia over Crimean assets in Q1 2019- Naftogaz

2 min read
Court of arbitration in The Hague could issue award on merits in lawsuit against Russia over Crimean assets in Q1 2019- Naftogaz

National joint-stock company Naftogaz Ukrainy expects that the tribunal of the Permanent Court of Arbitration in The Hague would issue an award on merits under a lawsuit filed by the company against Russia over the seizure of assets of Naftogaz in Crimea in the first quarter of 2019, the press service of the company has reported.

"Next week we expect a hearing on the jurisdiction and on merits. During these hearings the tribunal will determine whether Naftogaz has grounds for filing a lawsuit under the Russian-Ukrainian bilateral agreement on mutual protection of investments and whether the Russian Federation violated its obligations. Lawyers expect that the awards on the jurisdiction and on merits would be issued in the first quarter of 2019," the company said.

The company said that in case of a positive decision, at the next stage the court will assess damage and issue a final award.

Naftogaz congratulated other Ukrainian companies that they have already managed to prove their case to the tribunal under the litigations against the Russian Federation.

"The Tribunal has satisfied the demands of 18 Ukrainian companies, as well as one individual. The plaintiffs claimed compensation of $159 million... We are happy for our companions in misfortune who have already received the award and are working on their proceedings," the press service of Naftogaz said.

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