10:06 27.12.2017

Paris court's decision on Oschadbank's claim against Russia over lost Crimea assets expected in 2018 - Zerkal

Paris court's decision on Oschadbank's claim against Russia over lost Crimea assets expected in 2018 - Zerkal

A decision by the International Court of Arbitration in Paris on a claim filed by Kyiv-based state-run Oschadbank against Russia over lost assets in Russian-annexed Crimea is expected in 2018, Ukrainian Deputy Foreign Minister for European Integration Olena Zerkal has said.

"We expect a positive result in the case initiated by Oschadbank against Russia. We [earlier] hoped the decision would be made this year. Taking into account the volume of materials, the decision will be next year both on the jurisdiction and on the merits of the case," she said on Channel 5 on Tuesday evening.

In her words, Ukraine has somewhat succeeded in cases against the Russian Federation over property in Crimea, and this may encourage private investors to file claims.

As reported, the hearing on this case began on March 27, 2017.

Oschadbank's claim for lost assets and lost business in Crimea amounts to $1 billion.

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