International investment arbitrage as an element of legalistic counter stand versus Russia
July 8, 2015, Arsenii Yatseniuk, Prime Minister of Ukraine, claimed that Oschadbank (state-owned bank) filed a 15 billion UAH claim against Russia and called other state-owned businesses to follow the lead.
Shortly after, the Press were provided with the information that PrivatBank had initiated arbitration talks against Russia regarding its Crimean investment security.
Thus, Ukrainian business entities search for efficient legal mechanisms that will enable them to withstand Russia and receive indemnity for expropriated assets located on the territory of the Crimea and Sevastopol.
The State of Ukraine initiated interim measures to call for international investment arbitrage. Therefore, the authorities commenced applying investor protection mechanism set forth in the Investment Agreement signed by the Cabinet of Ministers of Ukraine and the Government of Russian Federation November 27, 1998.
Today, issue of legal and property liability of the aggressor (including indemnity caused by the asset expropriation) is just a matter of time. Eventually, Russia`s liability will be reduced to practice.
Source: www.gazeta.zn.ua, Aleksandr Malinovskiy, Daniil Kurdelchuk