Photo: open sources
The Permanent Court of Arbitration at The Hague issued the judgment that the Russian Federation should compensate to a number of Ukrainian companies for damages from annexation of Crimea, reported by court’s press release.
The amount of compensation Russia has to pay is $ 159 million.
«Having consulted the Parties, on 23 March 2018, the Tribunal declared the hearings in this arbitration closed according to Article 29(1) of the UNCITRAL Arbitration Rules 1976. On 2 May 2018, having deliberated, the Tribunal issued its unanimous Award on the Merits, addressing issues pertaining to liability and damages», – the report said.
According to the court’s decision, Russia is responsible for violating the rights of Ukrainian investors, from March 21, 2014, when Russian President Vladimir Putin signed a decree on the annexation of the Crimea.
This decision was the first in history, according to which Russia is forced to pay compensation as a result of annexation. The suits against Russia were filed by 18 Ukrainian companies and one individual.
The Permanent Court of Arbitration confirmed its jurisdiction over property relations in the Crimea in the summer of 2017. Russia did not recognize the decision, and then began to ignore the case.
As «The Journalist» reported, the EU intends to expand the sanctions list against Russia.
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