“Ukrnafta” will receive 44 million dollars as compensation from Russia


The Swiss Supreme Court upheld its decision to recover from Russia in favour of the Ukrainian enterprise Ukrnafta $ 44 million in compensation for investments lost in Crimea.    

On December 12, 2019, the court dismissed the statement of Russia on the cancellation of the international arbitral award in favour of Ukrnafta.

In addition, the Swiss Supreme Court ordered Russia to pay Ukrnafta 155 thousand Swiss francs of court costs. The decision of the Swiss Supreme Court of December 12, 2019, is final and not subject to appeal. 

Ukrnafta is the largest oil company in Ukraine. Naftogaz Ukrainy owns a 50% + 1 share of Ukrnafta, and a group of companies associated with former shareholders of PrivatBank own almost 42% of the shares.

Author: Редакция Avdet