Russia refuses to recognize the decision of the International Arbitration Court in The Hague on the payment of $ 139 million to 18 Ukrainian companies as compensation for property in the occupied Crimea.

Moscow stated that the subject of the claim of Ukrainian companies is not under the jurisdiction of the Permanent Court of Arbitration, RBC reported, referring to the press service of the Ministry of Justice of the Russian Federation.

The Russian department said that the decision to pay compensation was appealed on August 29, 2018 in the Court of Appeal of The Hague.

However, John Townsend, a lawyer for the American company Hughes Hubbard & Reed, who represents the interests of the plaintiffs, said that Russia had not formally filed an appeal.
This is a decision that International Arbitration in The Hague made on May 10.

Then it was established that the Russian Federation illegally expropriated the property of the plaintiffs in the Crimea - Everest Estate LLC and 17 other Ukrainian structures, as well as one physical person - the former Chairman of the board of Privatbank Oleksandr Dubilet.

International Arbitration has awarded compensation for the loss of assets, as well as interest and reimbursement for lawyers' fees and expenses for arbitration.

The plaintiffs claimed that Russia had violated the Russian-Ukrainian agreement on the promotion and mutual protection of investments of 1998.

In total, the Permanent Court of Arbitration in The Hague registered eight lawsuits from 50 Ukrainian companies over assets in the Crimea for at least $ 7 billion.

Earlier, the Ministry of Foreign Affairs of Ukraine called on Ukrainian companies to fight for compensation for assets lost after the annexation of Crimea.

Olena Zerkal, Deputy Minister of Foreign Affairs of Ukraine for European Integration, called the decision of the Arbitration Court in The Hague on the suit of a group of 19 Ukrainian citizens against the Russian Federation on the unlawful expropriation of their property a victory.

After the announcement of this decision of the Arbitration Court, the Foreign Ministry of the Russian Federation stated that Moscow was ready for a dialogue on this issue.
Source: RBC