Naftogaz puts claims against Russia in Crimean suit at $8 bln

KIEV, Mar 12 (PRIME) -- The amount of claims of Ukrainian energy holding Naftogaz Ukrainy against Russia under a suit on Crimean assets filed to the Permanent Court of Arbitration in the Hague rose to U.S. $8 billion including interest, CCO Yury Vitrenko said on Monday on his Facebook page.

“We may win up to $8 billion already this year. The Russian Federation is the defendant, the sum was $5 billion without interest, but the sum including the expected interest is $8 billion,” he said.

Naftogaz Ukrainy previously owned Crimean natural gas company Chernomorneftegaz, but it was nationalized in March 2014 when Crimea joined Russia. The Ukrainian holding and six its affiliated filed the suit to the Hague court in October 2016 basing its claims on a 1998 investment protection agreement between Russia and Ukraine, and the company expects the court to start hearings in May 2018.

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