The annexation of Crimea: Russia lost the Ukrainian business court in the Hague
Photo: depo.ua
This decision was the first in history when Russia has to pay compensation for the annexation
09.05.18 77236200
The court of arbitration in the Hague ruled that Russia must compensate a number of Ukrainian companies damages for the annexation of Crimea. We are talking about the amount of 159 million dollars.
The judgment States that Russia is responsible for violating the rights of Ukrainian investors, since March 21 2014, when Vladimir Putin signed a decree on the annexation of the Crimea.
This decision was the first in history in which Russia is forced to pay compensation as a result of the annexation, according to TSN.
A lawsuit against Russia filed 18 Ukrainian companies and one individual.
- See ALSO: Walker: Sanctions against Russia will be perpetual
The arbitral Tribunal confirmed its jurisdiction in cases of property relations in the Crimea in the summer of 2017. Russia’s decision is not recognized, then start to ignore the proceedings.
After the hearing the dispute on the merits from 5 to 6 October 2017, the arbitral Tribunal invited the parties to submit additional written explanations. 11 December 2017, the plaintiffs submitted their explanation together. While Russia is no explanation not provided.