Russia Rejects $1.3 Billion International Arbitration Ruling In Ukraine Bank Case

[Rogue Valley]

Russia Rejects $1.3 Billion International Arbitration Ruling In Ukraine Bank Case

11/27/118
Russia says it will not accept an international arbitration ruling obliging Moscow to pay Ukraine's biggest state-run bank $1.3 billion in compensation for loss of business and assets in Crimea following Moscow's annexation of the peninsula in 2014. The Russian Justice Ministry said in a statement that the arbitration court's November 26 decision was invalid because "the arbitration panel does not have jurisdiction to consider the lawsuit of Ukraine's Oshchadbank against the Russian Federation." "The Justice Ministry of Russia will take all necessary measures to ensure the representation and protection of the Russian Federation's interests over this arbitration ruling," the ministry said. Kremlin spokesman Dmitry Peskov on November 27 declined to comment on the matter, saying he did not have any information about it.

Oshchadbank said on November 26 that the court ruled in the bank's favor, and the bank will now take "all possible measures" to get the money back from Russia. Law firm Quinn Emanuel Urquhart & Sullivan, which represented Oshchadbank in the case, said the decision to award the sum had been made unanimously by three members of the Permanent Court of Arbitration. Oshchadbank official Andriy Pyshnyy encouraged other Ukrainian companies to seek international arbitration "to restore justice" over property seized in Crimea.

Russia agrees to arbitration and then renege's when it loses the ruling. But Moscow typically ignores lawful rulings, treaties and agreements. Moscow ignores neighbor sovereignty, the UN vote on Crimea, treaties with other nations, maritime treaties and rulings, energy arbitration rulings, the Geneva Conventions, conventions banning certain weapons, the ban on chemical weapons, assassinations on foreign soil, and the latest snub at legality..... kidnapping and piracy on the high seas.

 

[Chagos]

Russia Rejects $1.3 Billion International Arbitration Ruling In Ukraine Bank Case

Russia agrees to arbitration and then renege's when it loses the ruling. But Moscow typically ignores lawful rulings, treaties and agreements. Moscow ignores neighbor sovereignty, the UN vote on Crimea, treaties with other nations, maritime treaties and rulings, energy arbitration rulings, the Geneva Conventions, conventions banning certain weapons, the ban on chemical weapons, assassinations on foreign soil, and the latest snub at legality..... kidnapping and piracy on the high seas.

In short, criminals.

All the way up and all the way down.

 

[Hawkeye10]

Russia Rejects $1.3 Billion International Arbitration Ruling In Ukraine Bank Case

Russia agrees to arbitration and then renege's when it loses the ruling. But Moscow typically ignores lawful rulings, treaties and agreements. Moscow ignores neighbor sovereignty, the UN vote on Crimea, treaties with other nations, maritime treaties and rulings, energy arbitration rulings, the Geneva Conventions, conventions banning certain weapons, the ban on chemical weapons, assassinations on foreign soil, and the latest snub at legality..... kidnapping and piracy on the high seas.

The New Chinese Empire fully intends to remove and replace the Western lead global institutions that have largely been in place since WW2. Surely the International Chamber of Commerce is slated for closing.

 

[Rexedgar]

In short, criminals.

All the way up and all the way down.

US or Russia?

 

[Chagos]

US or Russia?

That's right.