For the illegal seizure of assets in Crimea, the Hague court ordered Russia to pay the Ukrainian company Naftohaz Ukraine $5 billion. This was announced by the head of the board of the company Alexei Chernyshev on his Facebook.
The company planned to recover $10 billion with interest, but the court decided that the compensation should be equal to the market value of Naftohaz’s assets at the time they were seized.
“Five billion dollars… This is compensation for losses and lost property of Naftohaz in Crimea, starting in 2014“,- he said.
“So, in the event that Russia refuses to voluntarily execute a court decision, in accordance with the New York Convention of 1958, Naftohaz has the right to begin the process of recognition and admission to enforcement of the decision on the territory of those states where the assets of the Russian Federation are located”,- the message says.