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Court orders Ukraine to pay $100 mln to Russia’s Tatneft

August 15, 2014, 16:24 UTC+3 KIEV
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KIEV, August 15. /ITAR-TASS/. The International Commercial Arbitration Court has awarded a US $100 million compensation to Russia’s Tatneft to be paid by Ukraine under a case on property rights for Ukrtatnafta shares, Ukraine’s Justice Minister Pavlo Petrenko told reporters Friday.

“The court’s decision has not come in effect yet. The court has partially satisfied the claim by the company, the sum is about $100 million,” Petrenko said.

Tatneft demanded Kiev to pay $2.4 billion in compensation for reducing the stakes of companies close to Tatneft and of the government of the republic of Tatarstan in Ukrtatnafta to almost zero through litigations.

Ukraine’s actions favored raising the stake and the operational control over Ukrtatnafta by Dnipropetrovsk Region Governor Ihor Kolomoiskyi, Tatneft said.

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