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Russia’s Tatneft files two more applications to enforce recovery of $144 mln from Ukraine

Russian oil producer Tatneft filed two new applications in London and Moscow to enforce the arbitration award of July 29, 2014 against Ukraine on payment of $144 mln

MOSCOW, April 13. /TASS/. Russian oil producer Tatneft filed two new applications in London and Moscow to enforce the arbitration award of July 29, 2014 against Ukraine on payment of $144 mln for loss of the participation interest in Ukrainian company Ukrtatnafta, the Russian company said in a press release on Thursday.

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"Submission of these petitions was preceded by filing a similar application on enforcement in the United States on March 30, 2017. Tatneft submitted applications today to the High Court - Queen’s Bench Division, Commercial Court in London and to the Arbitration Court of Moscow City," Tatneft said.

Ukraine filed a petition to reverse the arbitration award but it was dismissed by the Paris Court of Appeal on November 29, 2016, Tatneft said. "Ukraine refuses to comply with the arbitration award. Hence the submitted applications to enforce the arbitration award is aimed at compelling Ukraine to discharge its international obligations," the Russian company said.

Ukraine’s violation of the bilateral agreement on promotion and mutual protection of investments between Russia and Ukraine, and Tatneft’s deprivation of its participation interest in the Kremenchug Refinery owned by Ukrtatnafta company became the basis for the $144 mln arbitration award.

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