Ukraine will demand the cancellation of the court's decision in the case of Ukrtatnafta - the Ministry of Justice

20 April 2017, 19:58 | Economy
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Ukraine will use all legal mechanisms and demand the cancellation of the decision of the international arbitration to pay $ 144 million in favor of Tatneft (RF) in the case of Ukrtatnafta (Kremenchug oil refinery, Poltava region. This was stated by the Minister of Justice of Ukraine Pavel Petrenko.

"We appealed against the decision to recover this amount from Ukraine, it is now appealed in cassation order. Today our group, consisting of representatives of various bodies, gathered to approve the further procedural schedule and strategy of work with this case. The position is such that until the trial on the merits is completed, we do not recognize such a decision - we believe that it was adopted in violation of international law, "he said..

Earlier, in April, Tatneft filed a petition with the London High Court of Justice to the Moscow Arbitration Court regarding the enforcement of the arbitration award of July 29, 2014, according to which Ukraine is obliged to pay the company $ 144 million in the Ukrtatnafta case,.

Recall that Ukraine lost a dispute with Tatneft in the International Commercial Arbitration for $ 112 million in the case of the "seizure" of shares in Ukrtatnafta (Kremenchug refinery, Poltava region) by the Privat group in 2007.

Then Ukraine appealed against the decision to pay $ 112 million to the Russian "Tatneft".

It was reported that Ukrtatnafta is a controversial asset for Ukraine and Tatarstan.

Ukrtatnafta was established in accordance with the decrees of the Presidents of Ukraine and Tatarstan in 1994 on the basis of the Kremenchug refinery. Earlier, 18.296% of the shares of Ukrtatnafta belonged to structures close to Tatneft, the Ministry of Property of Tatarstan owned 28.7788% of the shares, another 8.6% belonged directly to Tatneft,. However, as a result of litigation, the share of Tatarstan shareholders in the refinery was practically nil, and the company had new shareholders close to the group "Privat".




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