The Kyiv Court of Appeals allowed the State Savings Bank of Ukraine, Oshchadbank, to execute the decision of the Arbitration Tribunal in Paris to obtain compensation from Russia for assets lost due to the annexation of the Crimea. The relevant court decision is published in the court register.
It is noted that the court opened the case on May 2, 2019. At that time, representatives of Oshchadbank, who demanded Russia to execute the arbitration award, in particular by confiscating property in the territory of Ukraine, appealed to the court.
Recall that on November 26, 2018, the Arbitration Tribunal in Paris decided to collect 1,3 billion dollars in savings from Russia for the annexation of the Crimea in favor of Oshchadbank.
Bank reported that the collection of assets from the Russian Federation is planned in three ways: by confiscating the property of the Russian Federation, by forgiving Savings Bank debts to Russia and re-issuing debts of other countries to Russia to Oshchadbank. Another option for obtaining compensation is the collection of assets of state-owned companies in Russia.