The court in the Hague began proceedings regarding the seizure of Russian oil and gas assets in Crimea

Permanent court of arbitration in the Hague in the Netherlands began consideration of the case about the seizure of Ukrainian oil and gas assets in Russia-annexed Crimea.

The claim for reparations 17 Oct 2016 gave “Naftogaz of Ukraine” and six of its subsidiary companies – “Chernomorneftegaz”, “Ukrtransgaz”, “Ukrgazdobycha”, “Ukrtransnafta”, “Gas of Ukraine” and “of likvo”. “Naftogaz” then previously estimated a loss of $ 2.6 billion.

In the lawsuit Ukrainian side refers to the rules of the agreement between the governments of Russia and Ukraine on the protection of investments, signed on 27 November 1998 and the rules that were adopted by the United Nations Commission on international trade law of 1976. This writes UNIAN.

See also:

Russia annually produces illegally on the Ukrainian shelf of the Black sea of two billion cubic meters of gas

We will remind, in result of the annexation of Crimea by Russia in 2014, subsidiary of “Naftogaz” – “Chernomorneftegaz” – lost their main assets (in particular, drilling platforms “Peter Godovanets” and “Ukraine”), as well as access natural gas deposits on the Black sea shelf. According to the report of “Naftogaz” for 2014, the cost of lost in the Crimea assets was estimated at 13.8 billion.

In September of 2016 Ukraine has initiated arbitration proceedings to protect their rights as coastal States in areas adjacent to the Crimea to Maritime zones in the Black sea, the Azov sea and Kerch Strait. Then, the Deputy foreign Minister Elena zerkal reported that Ukraine has filed a lawsuit against Russia to force the aggressor to pay damages, from the extraction of the Ukrainian resources (oil and gas) on the continental shelf of the Azov and Black seas, as well as environmental consequences of economic activities of Russian companies.

Videospecial at sea: Ukraine tried to return illegally seized by the Russian drilling platform

TSN. Week

4 December 2016, 21:50

In mid-January 2017, it was reported that “Naftogaz” purchased for 6.3 million dollars of legal services to defend its position on this claim.

Recently , the court imposed a lien on the property of “Chernomorneftegaz” in the Crimea.

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