State-run Ukrenergo, which operates Ukraine`s power grids, has prepared documents to sue Russia in international courts for the loss of assets in the occupied Crimea.
”We prepared an entire package of documents and handed it over to the Justice Ministry, as in keeping with initial instructions, it was planned to be a joint lawsuit, which will be handled by the Justice Ministry,” Ukrenergo`s acting head Vsevolod Kovalchuk said at a press conference.
He said that an updated package of documents was submitted in March 2016.
If the Justice Ministry does not initiate work to lodge claims with an international court soon, the company will seek permission to hire a law firm to support Ukrenergo`s own lawsuit, he said.
Ukrenergo roughly estimates its Crimean assets at $500 million – $600 million.
As UaPosition reported earlier, Justice Minister Pavlo Petrenko said in 2014 that Ukraine`s losses from the occupation of Crimea by Russia is estimated at UAH 1.080 trillion (about $41.2 billion).
In 2015, the Justice Ministry announced plans to prepare a joint lawsuit to be filed with an international court for compensation of the property lost in Crimea.
Some state-owned companies did not wait for the ministry`s lawsuit and filed claims against Russia on their own.
In particular, oil producer Ukrnafta lodged a claim against Russia with the Hague-based Permanent Court of Arbitration. NJSC Naftogaz of Ukraine hired U.S.-based Covington & Burling LLP for filing its claim in that court.
Naftogaz CEO Andriy Kobolev has recently announced that its litigation through international investment arbitration against Russia for seized Crimean gas assets would begin in summer 2016.
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