Naftogaz has officially notified Russia of a dispute about the assets in Crimea

Naftogaz has officially notified Russia of a dispute about the assets in Crimea


MOSCOW, February 18. “Naftogaz of Ukraine” has sent Russia an official notice regarding an investment dispute over the group’s assets in Crimea, according to a press release of the Ukrainian company.

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“The Russian Federation was handed an official written notification of an investment dispute under the bilateral agreement on mutual protection of investments between Russia and Ukraine”, – stated in the message.

In particular, the press release notes that the dispute concerns investment of the group of “Naftogaz of Ukraine” in the Crimea.

In accordance with the terms of the agreement, Naftogaz sent an official request for consultations and negotiations with representatives of the Russian Federation in order to resolve the dispute. In this case, if the dispute is not resolved through negotiations, “Naftogaz” intends to refer it to arbitration.

The reunification of the Crimea with Russia

The authorities of Crimea and Sevastopol March 16, 2014 held a referendum on reunification with Russia. It was attended by more than 80 percent of eligible voters. For the reunification with Russia voted with 96.7 and 95.6%, respectively.

18 March of the same year the President of Russia Vladimir Putin signed the Treaty accepting the Republic of Crimea and Sevastopol into the Russian Federation and on March 21 it was ratified by the Federal Assembly.

Despite the compelling results of the referendum, Kiev refused to recognize the Crimea a part of Russia.