“Oschadbank” have not received any documents about the appeal of the Russian Federation the decision of arbitration

«Ощадбанк» не получал документов об обжаловании РФ решения арбитража

As of July 25, the Bank has not received any documents that would indicate any procedural actions of the Russian Federation against the decision of international arbitration on recovery of $1.1 billion in compensation for expropriation of assets in Crimea.

The Bank announced in response to widespread media reports that Russia appealed the decision of the arbitration.

“The decision of the international commercial arbitration on the claim of “Oschadbank” against Russia for damages caused to the Bank by the Russian Federation’s occupation of Crimea was adopted on 26 November 2018 in Paris.

Accordingly, any legal issues about the possibilities of appeal (cancellation) of the decision are regulated by the procedural legislation of France”, – is spoken in the message.

The Bank noted that in the case of receipt of such documents will act in accordance with the requirements of the French procedural order and international law.

At the end of August 2016 the Bank filed against the aggressor, the claim for compensation of more than $1 billion in losses due to illegal occupation and annexation of Crimea. At the end of November 2018, the Arbitration court in Paris granted the Bank’s request, however, the Russian Ministry of justice has not recognized this decision.

July 17, the Kyiv appeal court satisfied the statement of “Oshchadbank” and allowed to compensate the damage caused to Russia, seized Crimean assets of $1.1 billion plus interest.