Akhmetov Initiates Arbitration Against Russia for Seized Assets in Donbas

Ukrainian businessman Rinat Akhmetov, as an investor, will demand compensation from Russia for all losses caused to him as a result of interference in the activities or expropriation of assets and investments by the so-called "DNR" and "LNR" under the leadership or control of Russia in 2014-2017, according to the SCM website on Tuesday.

These assets, under the umbrella of the SCM Group, were involved in such diverse range of industries and activities as metals and mining, football, energy and real estate. Assets include, among many others, Yenakiyevo Metallurgical Plant, DTEK Rovenki Anthracite, DTEK Sverdlovanthracite, the Donbas Arena and Kirsha training centre, in the construction of which more than $400 million was invested. The money that the aggressor will compensate will be used to restore Ukraine in the future.

"On 24 Feb. 2022, the Russian army began a large-scale invasion of Ukraine. Yet, for me, as for many other Ukrainians, the war began in 2014. It was then that Russia invaded our country, started seizing our vital factories and plants, and destroying our infrastructure. My position has not changed: we will seek justice using all available legal means with every possible agency and court, because Russia's crimes against Ukraine and Ukrainians that have been committed since 2014 must be punished. Therefore, I am filing a claim for full compensation from the aggressor country for all the losses we have suffered since 2014 in the illegally occupied territories of Donetsk and Luhansk regions. Justice must be restored, and the aggressor must be held accountable both financially and in the criminal proceedings. I am going to invest the awarded compensation to rebuild and open new factories and plants, create jobs, and contribute to the growth of the Ukrainian economy. We will definitely rebuild our country, including our Ukrainian Donbas. And the Donbas Arena will once again be a place for happy meetings and excitement," Akhmetov comments on the judicial initiative.

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In 2018, a lawsuit was already filed with the Arbitration Court in The Hague regarding the energy assets of the DTEK energy holding in the annexed Crimea, in 2022 - to the ECHR with a list of assets destroyed or seized after Russia's full-scale invasion. The legal services of SCM and all of Akhmetov's businesses are making every effort to fully and comprehensively pursue Russia legally, looking for the necessary tools and options in international procedural practice, the company reports.