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London court grants Tatneft’s application on recovery of $144 mln from Ukraine

August 22, 2017, 18:00 UTC+3
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MOSCOW, August 22. /TASS/. The Commercial Court of the Queen's Bench Division of the High Court of Justice in London granted the application of Russian oil producer Tatneft on enforcement of the award of the Paris Court of Appeal on recovery of $144 mln from Ukraine due to loss of a participation interest in Ukraine’s Ukrtatnafta, a representative of Tatneft said on Tuesday during the case review in the Arbitration Court of Moscow District.

"Our application was granted in England and enforced in the territory of England," the company’s representative said responding to a judge’s question regarding progress in consideration of Tatneft’s petitions in England and the United States. The application in the United States was accepted for review, she said.

It was reported earlier 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 pronounced by the Paris Court of Appeal on November 29, 2016.

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