The court of Switzerland has demanded from Russia to pay for Ukrainian companies $82 million

the Federal court of Switzerland upheld the decision of arbitration in Geneva, which obliged Russia to pay compensation of 80 million Swiss francs (about 82,1 million dollars) 12 Ukrainian companies, which until the spring of 2014 owned assets in the Crimea. Two legal decisions were published in Switzerland recently.

According to the Info portal of the Swiss Federal court rejected the appeals of the Russian state on the decisions rendered by the International arbitration court in Geneva in April 2019. In one of the appeals of the Russian side argued that the Geneva judicial body is not suitable for adjudication in this case, as it thereby defines the status of Crimea.

Moscow Also considered inapplicable to the arguments of the Ukrainian firms, claiming that they are in this case subject to the Russian-Ukrainian intergovernmental agreement on encouragement and mutual protection of investments of 1998 (entered into force 27 January 2000).

For reimbursement of losses in 2015, the Permanent court of arbitration in the Hague turned 12 Ukrainian companies filed the first lawsuit “Ukrnafta” and another 11 Ukrainian enterprises, filed the second lawsuit. Some of these companies were previously associated with the group of companies of Ukrainian businessman Igor Kolomoisky.

the Chamber has appointed two arbitrators, and those chosen by the Chairman of his group Gabrielle Kaufmann-Kohler of Geneva. Thus, the proceedings were transferred to Switzerland.

According to the Federal court in Lausanne, the competence of the International court of arbitration in Geneva cannot be questioned. She was confirmed at the previous hearing in October 2018, which the court also rejected the argument of Russia to the 1998 agreement.