The Supreme Court of the Kingdom of the Netherlands has dismissed the Russian Federation's cassation appeal to cancel the Partial Award of the Hague Arbitration for damages caused by the illegal expropriation of Naftogaz Group's assets in Crimea, according to the press service of Naftogaz.
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Thus, the Dutch court for the second and final time confirmed the legality and validity of the decision of the Hague Arbitration Tribunal.
“The decision of the Supreme Court strengthens the position of Naftogaz Group in enforcement proceedings to recover the debt owed by Russia for the illegal seizure of assets in Crimea. We thank our legal advisors, Covington & Burling and NautaDutilh, for their outstanding work. Naftogaz is on the way to restoring justice,” said Roman Chumak, who is temporarily acting as the Chairman of the Board of Naftogaz of Ukraine.
As a reminder, on February 22, 2019, the tribunal confirmed its jurisdiction in the arbitration proceedings and found that Russia expropriated Naftogaz Group's assets in Crimea in violation of the provisions of the intergovernmental agreement between Ukraine and Russia. In July 2022, the Hague Court of Appeal rejected Russia's application to set aside the previous award.
In April 2023, the court issued a final judgment in the case, awarding Naftogaz compensation of about $5 billion. Russia tried to appeal this decision but was unsuccessful.
