The Federal court in Switzerland did not change the decision of the international court

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Russia has lost an appeal against the decision of the International arbitration court in Geneva, is obliged to pay 12 Ukrainian companies ₣80 million (about us $82,1 million) compensation for expropriation of property in occupied Russian Crimea. On 10 January, reports swissinfo.ch.

According to the portal, January 9, the Swiss Federal Supreme court in Lausanne decided that the jurisdiction of the court in Geneva to put into question not. His expertise has already been validated in October 2018 at the hearing, which also dealt with this issue.

Russia annexed Crimea after the illegal referendum on 16 March 2014. The annexation of Crimea by Russia is not recognised by Ukraine and most countries of the world.

After the occupation of the Peninsula, a Ukrainian company, filed in international court cases on the protection of investments in the Crimea. Among them – “Naftogaz of Ukraine” JSC “Oschadbank”, JSC “Belbek Airport”, “PrivatBank”, JSC “Luksor” the company “Stable”, “Everest” and others.

In particular, in October 2014 a lawsuit was filed by the PJSC “Ukrnafta”, the claim was accepted for consideration in spring 2016. 26 June 2017, the arbitral Tribunal recognized the existence of jurisdiction to consider the dispute under the contract. Of the Russian Federation appealed against this decision to the Supreme court of Switzerland, but the one in October 2018 has rejected the Russian claim. 12 April 2019, the arbitration court decided to collect from Russia in favor of “Ukrnafta” nearly $44.5 million the amount of compensation according to the decision of the arbitration court shall bear interest from 22 April 2014.


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