You're reading: RFE/RL: Naftogaz seeks $5.2 billion in damages from Russia over seized Crimea assets

RFE/RL: Naftogaz seeks $5.2 billion in damages from Russia over seized Crimea assets

Published Aug. 1, 2019 at 9:26 am

Ukraine's oil and gas company Naftogaz Chief Executive Officer Andriy Kobolyev talks during a press conference after a meeting with the European Commission vice-president in charge of Energy Union and Russian representatives at the EU headquarters in Brussels on Jan. 21, 2019.

Photo by AFP

Naftogaz Group, Ukraine’s state-run oil and gas conglomerate, on July 31 filed a lawsuit for a $5.2 billion damage claim over assets that Russia seized during its annexation of Crimea in March 2014.

The Permanent Court of Arbitration in The Hague will hear the case and Naftogaz said in a statement that it expects a ruling “no sooner than the end of 2020.”