Russia must compensate losses of Ukrainian firms, Hague arbitration court rules

2018/5/10 23:18:37

Analyst: “While justice needs to be pursued in this manner, the looming specter of such payments – let alone criminal charges – will only prompt the Russian government to double down in its resistance and hostility towards the global community.”

 


KYIV, May 10, 2018 - The Russian government must compensate 18 Ukrainian companies for their losses incurred from the illegal annexation of Crimea based on a May 2 ruling reached by the Permanent Court of Arbitration in The Hague, Concorde Capital informed clients based on a UNIAN news agency report on May 9. It was the first court ruling that required Russia to compensate the victims of its illegal acts of aggression in Ukraine. Russia assumed responsibility for the damages, estimated at USD 159 mln, when President Putin signed on March 21, 2014 the order to annex the Crimean peninsula.

 

Concorde analyst Zenon Zawada added: “This is merely the first ruling in what will be many requiring the Russian government to take responsibility for its illegal, violent actions in Ukraine. While justice needs to be pursued in this manner, the looming specter of such payments – let alone criminal charges – will only prompt the Russian government to double down in its resistance and hostility towards the global community. This is why we expect Russia’s aggression in Ukraine can conclude in only two outcomes – the collapse of the Putin administration (and perhaps the Russian Federation) or war on a continental scale. And we lean towards war as the more likely outcome, unfortunately, though than can certainly lead to Putin’s downfall as well.

 

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For more information, link here: www.concorde.ua 

 

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