Ukrainian companies file $4.5 billion in lawsuits against Russia

Ukrainian Deputy Foreign Minister Yevgeny Yenin said that Ukrainian companies, which lost profits and assets due to Russia’s annexation of Crimea, have already filed lawsuits in international courts for more than $4.5 billion. 

“We actively encourage our enterprises, which have lost their property, lost their income, to go to arbitration and to fight again and again with the Russia for all that they have lost,” said Yenin on air of the TV channel “Dom”.

According to Yenin, lawsuits from Ukrainian businesses in connection with the annexation of Crimea by Russia are currently in 12 commercial arbitration courts. And while the hearings for most lawsuits are just beginning, $250 million has already been recovered.

At the same time, Yenin noted that more lawsuits against Russia are coming. Ukrainian oil company Naftogaz is also preparing to file another lawsuit. At the same time, Russia is constantly trying to appeal the rulings that commercial arbitrations make, but this will not stop the decisions that have already come into force.

“The penalties are being accrued. All this falls on the shoulders of a Russian taxpayer, who at some point will say “where does our money go?”Yenin believes.

The Deputy Minister believes that, in the end, the decisions of international courts will make the situation so difficult for Russia that it will have to pay multibillion-dollar bills and will be completely isolated. At the same time, Ukraine will restore peace in its territories and “prove that there is justice.”

(C)UAWIRE 2021

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