20 грудня, 2023, 09:45

Naftogaz, together with five companies of the Naftogaz Group, has secured an order from the High Court of Justice of England & Wales recognizing its $5 billion final award on damages (including interest) against russia, as well as the underlying partial award on jurisdiction and liability, on 5 December 2023.

The final award was issued by a prominent arbitration tribunal at the Permanent Court of Arbitration (PCA) in The Hague on 12 April 2023 for substantial losses caused by russia’s unlawful seizure of Naftogaz’s oil and gas assets in Crimea in 2014.

The enforcement proceedings in England & Wales are part of Naftogaz’s worldwide strategy to recover $5 billion owed by russia under the award, the largest yet issued in the various arbitrations brought by Ukrainian investors who had assets confiscated by russia in Crimea.

“The Naftogaz Group is one step closer to recovering its losses caused by russia. We are pleased to announce that we have obtained an order recognizing the recent $5 billion Crimea arbitration award in England & Wales. Since russia refuses to pay the amounts owed under the award, we continue to leverage all available mechanisms to recover these funds in target jurisdictions hosting russian assets,” said Naftogaz Group CEO Oleksiy Chernyshov.

Naftogaz is also seeking recognition and enforcement of the award in the United States, as well as other target jurisdictions. russia is due to appear before the U.S. District Court for the District of Columbia on 23 February 2024, following successful service of process on russia via diplomatic channels.

Interest for non-payment of funds in accordance with the award continues to accrue until full payment.