Kobolev: Court of The Hague declared illegal expropriation of Naftogaz assets in Crimea by Russia

Open source

The head of the NJSC Naftogaz of Ukraine, Andrii Kobolev, stated that the International Court of Arbitration in The Hague declared Russia’s expropriation of the assets belonged to the Ukrainian state-owned company in Crimea as illegal.

“Court made a positive decision. We were able to prove to the tribunal the fact that its jurisdiction extends to case of this investment protection. Secondly, we were able to prove that Russia, as a state, is to blame for the loss of our assets and should be responsible for this. In other words, the Russian Federation must provide compensation to Naftogaz of Ukraine,” said Kobolev.

Naftogaz estimates compensation in the amount of USD 5 billion, UNIAN informs.

According to Kobolev, Naftogaz of Ukraine in early 2020 expects to receive the decision of the International Court of Arbitration in The Hague on the amount of compensation for the company’s assets seized by Russia in Crimea.

“The final decision will be the subject of the next hearing, which we expect this year. We hope that somewhere in the beginning of 2020 there will be a court decision regarding the amount of compensation,” said Kobolev.

As The Journalist reported, Naftogaz extended contract with Kobolev for another three years, promising over UAH 2 million salary per month.