The court in the Hague will consider the claims of Ukrainian companies against Russia due to the annexation of the Crimea

The permanent court of arbitration in the Hague will consider the claims of PJSC “Ukrnafta”, LLC “Stabiae,” and a dozen other companies in Russia.

This court announced Tuesday, July 4, according to the news Agency Reuters, citing a statement by the court.

Ukrainian companies seeking compensation for the loss of control over their assets in Crimea after the Russian annexation of the Peninsula. In particular, the “Ukrnafta” and “Stable” in June 2016, appealed to the international court of arbitration in the Hague, demanding compensation.

The plaintiffs argue that Russia violated its obligations under the Russian-Ukrainian bilateral agreement on mutual protection of investments, giving a network of petrol stations of these companies in the Crimea.

However, Russia argued that this issue falls outside the jurisdiction of the court and refused to participate in the process.

We will note, JSC “Ukrnafta” – largest oil and gas company of Ukraine. The state through the NJSC “Naftogaz of Ukraine” owns 50 percent plus one share of the company, and about 42% of actions belong to group “Privat”, controlled by businessman Igor Kolomoisky.

We will remind, in the Hague for occupation of Crimea with Russia recognized international armed conflict. The Prosecutor of the International criminal court, Fatou Bensouda, in its report on the previous investigation of the Ukrainian case acknowledged that “the situation on the territory of Crimea and Sevastopol, equivalent to the international armed conflict between Ukraine and the Russian Federation”.