A French court recognized and granted permission for the enforcement of the Hague arbitration award regarding compensation for losses caused by the illegal expropriation of Naftogaz Group assets in Crimea in the amount of $5 billion.
This was reported by the press service of Naftogaz.
“This result is part of our global campaign to enforce the arbitration award. This is an extremely important legal victory for NJSC Naftogaz of Ukraine and five other companies of the Group. It allows Naftogaz to initiate collection proceedings in France,” said Roman Chumak, the head of Naftogaz.
As part of this process, Naftogaz has already registered encumbrances on a number of assets owned by Russia and located in France, with a total value of over €120 million. This is the first step towards enforcing the arbitration award.
Previously , Britain transferred $1 billion to Ukraine as part of a loan secured by frozen Russian assets.