International arbitration court rules to recover from Russia US$44.4 mln in favor of Ukrnafta over Crimea assets

As of April 2019, the interest accrued stood at US$5.5 million.

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The International Arbitration Court has ruled to recover from Russia US$44.4 million in compensation in favor of Ukraine's largest oil producer, Ukrnafta, for the expropriation of the company's property in the annexed Crimea.

"By an award dated 12 April 2019, the arbitral tribunal ordered the Russian Federation to pay PJSC Ukrnafta US$44,455,012.00 in compensation for the expropriation of Ukrnafta's investment on the territory of the Autonomous Republic of Crimea, as well as more than US$3.5 million in arbitration costs," the company's press service said in a statement on April 16.

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Under the award, Russia is to pay interest accrued on the said compensation from April 22, 2014. The interest as of April 2019 stood at US$5.5 million, the press service added.

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