MOSCOW, April 13. /TASS/. The court in the Hague ordered Russia to pay compensation to Ukraine’s state-owned company Naftogaz, allegedly for damages in Crimea. The Arbitration Tribunal at the Permanent Court of Arbitration adopted this decision on April 12, according to a publication by Naftogaz on Facebook (banned in Russia, owned by the Meta corporation, which is recognized as extremist in Russia).

"Five billion dollars - this is the compensation the Russian Federation is obliged to pay to Naftogaz for the damage caused by the seizure of assets in Crimea. The Arbitration Tribunal at the Permanent Court of Arbitration in the Hague made the corresponding decision on April 12, 2023," the company says.

"We have lost drilling rigs, gas pipelines, our own fleet and administrative buildings," the company said in a statement. Naftogaz said that if Moscow fails to comply with the court decision, "according to the New York Convention of 1958, Naftogaz has the right to begin the process of recognition and admission to enforcement of the decision on the territory of those states where the assets of the Russian Federation are located."

To date, the press service of the court has not published any decisions on this topic.

The Arbitration Tribunal in the Hague launched proceedings to determine the amount of compensation to Naftogaz for the lost opportunity to use assets in Crimea on February 21. Kiev demanded $10 billion. In September 2017, Naftogaz filed a lawsuit against Russia with the International Tribunal demanding compensation for loss of assets in Crimea. The list of property valued includes the production assets of a subsidiary of Chernomorneftegaz, gas in an underground storage facility in Crimea, as well as assets of other subsidiaries of Naftogaz.