Russia not to accept Hague court ruling on payments to Ukraine's companies

Russia will not recognize a ruling of the Permanent Court of Arbitration in the Hague on levying reward for Ukrainian companies that lost their assets in Crimea as the court has no jurisdiction to adjudicate this claim, the Russian Justice Ministry told RBC.

Earlier, Moscow informed the court that a bilateral Russian-Ukrainian investigation agreement signed in 1998 cannot be treated as basis for starting an arbitration procedure to solve the dispute and that Russia does not recognize the jurisdiction of the Permanent Court of Arbitration in adjudicating this claim.

Russian president’s spokesman Dmitry Peskov answering reporters’ questions said that Moscow does not see itself a party in the trial under the Ukrainian companies’ claim to Russia due to lost assets in Crimea. He reminded that Russia was not represented at the trial, RIA Novosti reports.

Talking to the Federal news Agency, member of the Russian Federation Council Committee for Foreign Affairs Sergey Tsekov said that the attitude towards the trial in the Hague can be only negative, but stressed that those Ukrainian businesspeople who wanted to continue working in Crimea after it joined Russia remained on the peninsula. “Those Ukrainian companies that left Crimea made it on their own will,” the Russian senator said.

Earlier, it became known that the Permanent Court of Arbitration passed a verdict on claim of Ukrainian companies that accused Russia in expropriating their assets in Crimea.

Naftogaz of Ukraine announced that the court in Hague “obliged Russia to pay to Ukrainian investors for annexing Crimea.”

Ukrainian media state that the deal is about $159mn. 18 Ukrainian companies and an individual reportedly presented the claim to the court.