The Supreme Court of Russia has refused to review the decision by the Moscow District Arbitration Court on payment of compensation to Tatneft Company by Ukraine for violation of the interstate Russian-Ukrainian agreement to protect investments. The amount in dispute is $144 million. Yet in 2014, the International Commercial Arbitration in Paris awarded $112 million compensation to Tatneft. Pennies accrued within two years totaled $144 million and the Arbitration Court of the Moscow District ruled for execution of the decision by the International Commercial Arbitration in the territory of Russia. The Supreme Court of Russia has confirmed the court’s powers and rejected Ukraine’s appeal.
“In fact, this decision applies only to one of the claims related to the situation around Ukrtatnafta and Kremenchug Oil Refinery. Actually, Ukraine has to answer for Kolomoisky’s deeds,” says Dmitry Marunich, co-chair of the Energy Strategy Fund. “Although the government holds 43% of shares, it turned a blind eye on the fact that the oligarch’s men headed Ukrtatnafta through court actions in Ukraine in 2007 and seized the company’s shares from Tatarstan and Tatneft by court actions.”
The expert sees certain threat for Ukraine, since the above court rulings (including international ones) entitle to demand Ukrainian assets to be arrested not only in Russia but also in other countries.
