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Eastern Europe
October 19, 2018 www.intellinews.com I Page 18
Delta Bank's investment in the territory of Crimea as a result of their expropriation, nationalisation or susceptibility to measures equal to the conse- quences of expropriation, by Russia".
The move followed September's ruling of the Kyiv court of appeals to seize the shares of Ukrainian subsidiaries of Russian state-owned banks Sberbank, VTB and VEB following a claim filed by 17 companies and one person — ex-chairman of the board of nationalised PrivatBank Oleksandr Dubilet — that lost their assets in Crimea as a result of its annexation by Russia.
The ruling of the Kyiv court of appeals followed
a ruling of the Permanent Court of Arbitration
in the Hague that the Russian government must compensate almost two dozen Ukrainian compa- nies associated with close confidantes of Ukrainian oligarch Ihor Kolomoisky for their losses incurred from the illegal annexation of Crimea in 2014.
In May, Ukrainian Deputy Foreign Minister for
European Integration Olena Zerkal said that the Hague arbitration victory of former associates of Kolomoisky is "the first decision on compensa- tion for property lost as a result of occupation of Crimea, and the first victory on this section of the legal front.
"The illegal occupation has its price. The burden of aggression will be heavier for Russia. This
is only the first victory," she added, urging
other Ukrainian companies to file lawsuits with international courts against Moscow. "A lot of cases of Ukrainian companies, including Naftogaz, Oschadbank, Ukrnafta and PrivatBank, are already under consideration," Zerkal said.
Meanwhile, Moscow does not consider itself a party to the trial in The Hague, Russian presiden- tial press secretary Dmitry Peskov told reporters at the time. "Russia was in no way represented [at the trial] and did not dispatch its representative to this trial; this is why we do not consider ourselves a party [to the trial] in this case," he said.
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