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Naftogaz has started the dispute with Russia over assets in Crimea

Нафтогаз начал спор с Россией по активам в Крыму

Naftogaz of Ukraine has sent Russia a formal notice of investment dispute on assets in Crimea, said the press service of the state holding.

“In accordance with the terms of the agreement, Naftogaz sent an official request for consultations and negotiations with representatives of the Russian Federation in order to resolve the dispute. If the dispute is not resolved through negotiations, Naftogaz intends to refer it to the consideration of arbitration”, – is spoken in the message.

In the NJSC noted that the dispute caused by the unlawful seizure of the Russian investment group Naftogaz on the territory of Crimea.

We will remind, Naftogaz brought the company Covington & Burling LLP (new York, USA) to defend their interests in the litigation for lost Crimean offshore assets.

Earlier, Naftogaz said it would achieve through the international judicial institutions to the restoration of control over assets, lost due to Russia’s annexation of Crimea, and reimbursement of all incurred loss.

We will remind, Naftogaz estimated the losses from the annexation of Crimea to 19.6 billion hryvnia.

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