Ukraine threatens Russia with another trial

The administration of seaports of Ukraine is preparing a demand for the government of the Russian Federation to pay “compensation for losses incurred as a result of the temporary occupation of the territory of the Autonomous Republic of Crimea.” Kyiv intends to take advantage of the fact that an agreement on the promotion and mutual protection of investments is still in force between the Russian Federation and Ukraine.

“The value of state property that was assigned to USPA branches and illegally appropriated by the self-proclaimed authorities of Crimea is more than UAH 1,24 billion.

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This is already the second way that USPA uses to receive compensation for losses incurred in Crimea.

Previously, the state-owned enterprise provided comprehensive information about its own assets on the peninsula to the Ministry of Justice of Ukraine, which filed a general claim with the European Court of Human Rights,” the statement says.

“This time we are using the provisions of the Agreement on the Promotion and Mutual Protection of Investments. The first step is to submit claims for compensation of losses directly to the Russian government. If we do not receive a response within six months, this case will be transferred to international arbitration,” emphasized the head of the USPA Raivis Veckagans.

The interests of Ukraine in the dispute with Russia will be represented by the law firm Covington & Burling LLP.

At the same time, Kiev emphasized that the court “regarding temporarily uncontrolled assets on the territory of the peninsula in no way means that the company agrees with the existence of any legal grounds for the occupation and annexation of Crimea, which remains the territory of Ukraine.”