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Hague court orders Russia to pay $5 billion to Naftogaz

Apr 13, 2023

The Arbitration Tribunal at the Permanent Court of Arbitration in The Hague has ordered Russia to pay $5 billion in favor of Naftogaz.

Oleksiy Chernyshov, the Chairman of the Board of Naftogaz, wrote about this on Facebook.

He explained the amount of $5 billion in compensation for losses and lost property of Naftogaz in the occupied Crimea.


According to Chernyshev, it is compensation for assets aimed at developing gas fields and other strategically important infrastructure, which "became one of the main targets of the aggressor during the occupation of the Ukrainian peninsula nine years ago."

"I believe that this is not the last decision that will be made in The Hague in favor of our country," he added.

Naftogaz of Ukraine explained that the arbitration tribunal confirmed that Russia must fully compensate for the losses caused by the illegal seizure of assets in Crimea.

Author - Olena Madiak, 13/04/2023

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