Oschadbank suing Russia for UAH 15 bln in compensation of loss due to Crimea's annexation

State-owned Oschadbank has filed a lawsuit against the Russian Federation, demanding UAH 15 billion in compensation of the losses the bank incurred as a result of the illegal annexation of Crimea, according to Ukrainian Prime Minister Arseniy Yatsenyuk.

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"I have just received information from the management of Oschadbank that the bank filed a lawsuit against the Russian Federation, claiming financial compensation worth nearly UAH 15 billion because of the losses due to the illegal annexation of Crimea by Russia," Yatsenyuk said at a government meeting on Wednesday.

"And I ask other Ukrainian state-run companies to follow suit to hold Russia accountable and recover losses caused by the illegal annexation of Crimea from Russia," Yatsenyuk said.

Earlier, Ukrainian President Petro Poroshenko announced that the government had prepared a package of lawsuits to be lodged with international courts in connection with Russia's annexation of Crimea, "starting from the Maritime Arbitration [Association] and ending with the court in The Hague." The president explained that the lawsuits were related to a broad range of issues – from the protection of property rights to personal responsibility of certain individuals.

Ukraine in turn is also facing a number of lawsuits filed by international investors and other legal entities to the tune of about UAH 170 billion, according to the Ukrainian Justice Ministry.

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