REUTERS
The Russian Federation should pay not only the specified amount, but also the interest accrued since March 2014.
Kyiv's Court of Appeals has granted the motion filed by Ukraine's state-owned bank Oschadbank and ruled to execute a ruling issued by the International Court of Arbitration of the International Chamber of Commerce (ICC) to recover US$1.3 billion from the Russian Federation as compensation for the expropriation of bank assets in Crimea.
"The court issued writs of execution to recover from the Russian Federation not only the specified amount, but also the interest accrued from March 2014 until the period of Russia's full payment of debt," the Ekonomichna Pravda economic news outlet reported.
Read alsoOschadbank names three ways how to recover US$1.3 bln from Russia
As UNIAN reported earlier, the International Arbitration Court ruled on November 26, 2018, that US$1.3 billion should be recovered in favor of Ukraine's Oschadbank as compensation for the losses caused by the annexation of Crimea in 2014.
The Russian Ministry of Justice says the Russian Federation does not recognize the decision of international arbitration and will not compensate the said losses to Oschadbank.
Russia annexed Ukraine's Crimea in March 2014 after its troops had occupied the peninsula. An illegal referendum was held for Crimeans to decide on accession to Russia.
De-facto Crimean authorities reported that allegedly 96.77% of the Crimean population had voted for joining Russia. On March 18, 2014, the so-called agreement on the accession of Crimea and the city of Sevastopol to Russia was signed in the Kremlin.
The West did not recognize the annexation in response to which sanctions against Russia were introduced.
Ukraine's parliament voted to designate February 20, 2014, as the official date when the temporary occupation of Crimea began.
UNIAN memo. State-run Savings Bank of Ukraine, or Oschadbank, was registered by the National Bank of Ukraine on December 31, 1991. It is wholly owned by the state.