After the decision of the Arbitration Court in the Hague, Ukrainian investors can demand compensation from Russia for the annexation of the Crimea, according to Anders Åslund, expert of Atlantic Council analytic centre.
He noted that Ukrainian investors can begin to compensate losses through European courts, but this process is not fast.
“Under the new York Convention of 1958 (on the recognition and enforcement of foreign arbitral awards — approx. “Of the tape.ru”) the winner has the right to levy the state property in virtually every part of the world, and Western countries really do it. The proceedings are expensive and slow, however, it works," he stated.
QHA reported that the Hague Court of Arbitration (The Netherlands) had ruled to oblige Russia to compensate losses suffered by Ukrainian companies caused by the annexation of the Crimea. The lawsuit against Russia was filed by 18 Ukrainian companies and one individual. Thus, the Russian Federation has to make amends in the amount of 159 million dollars.