The amount of the claims of Ukraine and Russia reached 100 billion — Bloomberg

The total number of lawsuits between Ukraine and Russia reached $ 100 billion. About it writes «Economic truth» with reference to Bloomberg.

As noted, even if the conflict in the Donbass will be frozen, a legal battle between Ukraine and Russia on the contrary, strained.

Bloomberg reminds that Russia seeks to return $ 3 billion that has received Viktor Yanukovych in 2013. As the questioned experts, the case may take 18 to 24 months. About the lawsuit, which takes the Ukraine against Russia the President of Ukraine Petro Poroshenko said at his last big press conference last month. According to him, for the annexation of Crimea, Ukraine will submit the claim to the international court in the Hague for the sum more than 1 trillion UAH ($37 billion).

The proceedings in the International court in such cases as a rule, moves very slowly and can take years, says Peter Griffin, managing Director of Slaney Advisors in London. However, as noted, this court is the ideal place to decide on the illegality of the annexation of Crimea, but there are many cases involving Crimea, which certainly would be considered in the first place. This may affect the course of the proceedings, warns Griffin.

Also, the Ukrainian state energy company «Naftogaz of Ukraine» filed in the Stockholm arbitration court against the Russian company «Gazprom» for the sum of 26 billion dollars, claiming that it had overpaid for gas supplies and insufficient transit. The first ruling is likely to be imposed not before the middle of this year. Thus «Naftogaz» has hired lawyers to seek damages from losses in the Crimea.

Last year, Gazprom filed a lawsuit in the Stockholm arbitration court to Naftogaz in the amount of 29.2 million dollars for unpaid supplies and the refusal to import gas. Last month Moscow-based company said that Ukraine only owe her $ 32 billion.

Also in the court of Russia filed a state savings Bank because of losses in the Crimea. The Bank will seek about $ 15 billion USD, but according to representatives of the Bank business can last 4 years. With five arbitration cases were filed by the companies «Ukrnafta», «Airport «Belbek» and PrivatBank against Russia for losses associated with the Russian occupation of Crimea.

It is alleged that Russia violated a bilateral investment Treaty with Ukraine from 1998. Russia has said that it will not participate in litigation because no agreement can serve as a basis for arbitration.

According to experts interviewed by Bloomberg, these court proceedings can last years and cost tens of millions of dollars on legal fees. In this case, as the newspaper notes, there is no guarantee that even if you win in court, either party will be able to receive monetary compensation quickly.

«Ukraine will have to join a queue for the former owners of YUKOS, which won the suit, for the sum of $ 50 billion from Russia in the Hague in 2014 for the illegal confiscation of assets», — writes the edition.

The amount of the claims of Ukraine and Russia reached 100 billion — Bloomberg 24.02.2016

Февраль 24th, 2016 by
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