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Ukrnafta and 11 other Ukrainian companies file claims against Russia to Hague Arbitration

Proceedings were initiated in connection with the Russian-Ukrainian agreement on incentivization and mutual protection of investments dd. November 27, 1998

Permanent Court of Arbitration in The Hague EPA/GUUS SHOONEWILLE

Permanent Court of Arbitration in The Hague

© EPA/GUUS SHOONEWILLE

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THE HAGUE, January 11. /TASS/. Ukrainian oil producer Ukrnafta and 11 other Ukrainian companies applied to international arbitration with claims against Russia. This is evidenced by documents posted on Monday on the website of the Permanent Court of Arbitration in The Hague.

Proceedings were initiated in connection with the Russian-Ukrainian agreement on incentivization and mutual protection of investments dd. November 27, 1998. No specific information was indicated regarding claims of Ukrainian companies.

The Russian side did not recognize the jurisdiction of the international arbitration and did not appoint its representatives for the proceedings.

Further to Ukrnafta, Ukraine’s Stabil, Rubenor, Rustel, Novel-Estate, Kirovograd-Nafta, Crimea-Petrol, Pirsan, Trade-Trust, Elefteria, Satek and Stemv Group also applied to arbitration.

The Permanent Court of Arbitration in The Hague said on January 6 that the arbitration started trying the claim of Ukrainian businessman Igor Kolomoisky and Belbek Airport company against the Russian Federation. Russia also refused to recognize the court jurisdiction in that case.

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