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US Court rejects Ukraine’s petition filed in dispute with Russia’s Tatneft

March 22, 20:37 UTC+3 MOSCOW

The US Federal Court of Columbia District rejected Ukraine’s petition filed in dispute with Russia's Tatneft, which claimed recovery of $144 mln for loss of a stake in Ukraine’s Ukrtatnafta in 2007

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MOSCOW, March 22. /TASS/. The US Federal Court of Columbia District rejected Ukraine’s petition filed in dispute with Russian oil company Tatneft, which claimed recovery of $144 mln for loss of a stake in Ukraine’s Ukrtatnafta in 2007, the Russian company’s official told TASS.

Tatneft has been in dispute with Ukraine in several courts. The company seeks recognition of the decision taken by the international arbitration in Paris that ruled that Ukraine should pay $112 mln plus interest to Tatneft for the loss of a stake in Ukrtatnafta. (Tatneft mentioned the sum of $144 mln in its press releases.) In spring of 2017, Tatneft filed relevant complaints to the Arbitration Court of Moscow, Commercial Court in London and Court of Columbia District in the US.

According to the official, Ukraine tried to challenge the jurisdiction of the US court, and also "petitioned for adjournment of the proceedings in the US until the decision was rendered by the court in France." These requests the defendant were rejected.

"Now US Federal Court of Columbia District should consider whether there are grounds for refusal to comply with the decision of the tribunal in the US," the official concluded.

About dispute

In 1994, Tatneft entered the capital of the Ukrtatnafta company that was created on the basis of the Kremenchug refinery. Then the company and related entities and government of Russia’s Tatarstan republic owned 55.7% of the shares of the enterprise. The rest was owned by Naftogaz of Ukraine and the affiliated of the Privat group of Igor Kolomoisky.

In 2007, the company lost control over the enterprise, the share shrank to zero as a result of various legal disputes. The companies close to the Privat Group took control over Ukrtatnafta.

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