- Russia Refuses to Recognize Hague Court Decision on Compensation to Ukrnafta - Ministry
Russia Refuses To Recognize Hague Court Decision On Compensation To Ukrnafta - Ministry
Umer Jamshaid 2 days ago Tue 16th April 2019 | 07:51 PM
Moscow did not participate in the consideration of the claim of Ukrainian oil and gas extracting company Ukrnafta in the Hague court and does not recognize the legality of the decision to compensate the Ukrainian company for lost assets in Crimea as the court does not have jurisdiction to consider this claim, the Russian Justice Ministry said Tuesday
Ukrnafta said earlier in the day that the Permanent Court of Arbitration in The Hague has ordered to recover $44.4 million from Russia in compensation for the loss of company property in Crimea after its reunification with Russia.
"The Russian Federation did not participate in the consideration of this claim. The country does not recognize the legality of the decision, primarily because the arbitration court does not have jurisdiction over this claim," the ministry said in a statement.
According to the statement, the Justice Ministry is planning to challenge this decision using all available legal protection mechanisms provided for by international law and the Swiss legislation.