Hague Court Upholds Ruling: Russia to Compensate Ukraine for Crimea Asset Seizure
The Netherlands’ Supreme Court upheld lower court rulings rejecting Russia’s appeal against a Hague Arbitration Court decision. This decision confirms Russia’s liability for the illegal expropriation of Naftogaz’s Crimean assets, a violation of a Ukraine-Russia investment agreement. The ruling validates the February 2019 partial award and the subsequent $5 billion compensation order against Russia. This final judgment reinforces the Hague tribunal’s jurisdiction and follows a similar decision by a Finnish court, which seized Russian assets to enforce the award.
John Q. Hosedrinker