In the beginning of 2020, DTEK expects a decision on a claim to Russia due to lost assets in Crimea

The company expects that in the 1st quarter of 2020, the decision of the The Hague International Arbitration Court a lawsuit against the Russian Federation due to the lost assets of the company in the annexed Crimea will occur. It was announced at a briefing during the opening of the Nikopolska SPP by DTEK's General Director, Maxym Timchenko.

"We have an active stage in considering our claim to Krymenergo. Russia has decided to enter this process. Their position has changed. If before, they did not recognize the position of such courts, did not recognize the jurisdiction of the courts that handle the lawsuits, but now we are preparing for the fact that the Russian Federation will be represented", he said.

It was reported earlier that on April 12, 2019, the Arbitral Tribunal decided to recover $44.4 million from the Russian Federation in favor of PJSC Ukrnafta for expropriation of PJSC Ukrnafta property in the annexed Autonomous Republic of Crimea by Russian Federation.

Source: expro


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Tags: DTEK, contracts, court, electricity

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