Kremlin: Russia does not recognize Hague arbitration court decision on compensating Ukraine for property lost in Crimea
The Russian Ministry of Justice does not recognize the decision of the International Permanent Court of Arbitration in the Hague, which on May 9 ordered Russia to compensate Ukrainian companies for lost assets after the annexation of Crimea in 2014.
"Russia does not recognize the above-mentioned decision due to the lack of arbitration jurisdiction to consider the aforementioned claim", the Ministry's press service stated.
On May 9, the representative office of the President of Ukraine in the Crimea reported that "the Ukrainian companies won the arbitration case" in the Hague against Russia over the loss of Ukrainian property in the annexed Crimea". The office did not provide details of the court riling.
On May 10, the Kremlin stated that "Moscow is not a party in the claim submitted to the Hague by the Ukrainian companies, demanding compensation for lost assets in Crimea".
The Foreign Ministry of Ukraine reported that if Russia refuses to voluntarily comply with the decision of the court in the Hague, the plaintiffs can submit claims to courts of other countries and demand to seize the Russian assets as compensation in those jurisdictions.
In March 2014 Russia "nationalized" about 480 Ukrainian-owned companies and organizations in the annexed Crimea. Ukraine has filed lawsuits in international courts demanding to be compensated by Russia.