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"The Russian Federation does not recognize the decision of the international arbitration rendered by the Permanent Chamber of Arbitration in The Hague, rendered on November 26, 2018, due to the lack of jurisdiction of the Arbitration to examine the complaint of the PJSC "Efficient State Bank of Ukraine" to the Russian Federation "
"The Russian Ministry of Justice will take all necessary measures to ensure the representation and protection of the interests of the Russian Federation at the publication of this arbitration award," added the Ministry of Justice.
The day before, Oschadbank announced that the Paris Arbitration Court had decided to grant the claim for compensation for the injury caused by the annexation of Crimea to Russia. "The amount of the compensation will rise to $ 1.3 billion plus interest, which will be billed from the moment the decision is made until the time of the actual compensation", indicates The report.
The hearing was conducted in accordance with the Rules of Arbitration of the United Nations Commission on International Trade Law of 1976, as well as an agreement between the Cabinet of Ministers of the United Nations. Ukraine and the Government of the Russian Federation on the Promotion and Mutual Protection of Investments.
Oschadbank's lawsuit against Russia was made public in the summer of 2015. A year later, it was reported that the bank wanted to seize more than $ 1 billion in compensation, which includes the cost of loss of badets, activities and interests.
As of March 2014, Oschadbank had the largest banking network in Crimea, with 294 separate off-balance sheet branches. As previously reported, the net loss of Oshchadbank in 2014 amounted to 8.5 billion UAH, while in 2013, a net profit of 678.784 million UAH had been received. The bank noted that the loss was formed
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