The Hague court orders Russia to pay $5 billion in compensation to Ukraine’s Naftogaz

The Hague Arbitration Tribunal ordered Russia to pay $5 billion in compensation for losses and lost property of Ukraine’s Naftogaz in Crimea, announced the company.

“The Naftogaz team has won a key victory on the energy front. Despite Russia’s attempts to obstruct justice, the Arbitration Tribunal ordered Russia to compensate Naftogaz for losses of $5 billion. Russia must now comply with this decision in accordance with its obligations under international law,” remarked Naftogaz CEO Oleksiy Chernyshov.

According to the company, the compensation established by this decision is the largest awarded by an International Arbitration Tribunal as indemnity for the expropriation of assets by Russia in Crimea.

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