Kiev court arrests shares of Ukrainian units of Russian state banks

Source: Xinhua| 2018-09-13 01:52:20|Editor: yan
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KIEV, Sept. 12 (Xinhua) -- Kiev Court of Appeal has ruled to arrest the shares of the Ukrainian subsidiaries of three Russian state-owned banks, local media reported on Wednesday.

The Interfax-Ukraine news agency said that the shares of Ukrainian branches of Sberbank, Prominvestbank and VTB Bank were arrested at the request of a group of Ukrainian companies and following the decision of the Permanent Court of Arbitration in The Hague.

Earlier this year, the Permanent Court of Arbitration ruled that Moscow should pay off compensation of about 130.5 million U.S. dollars to the group of about 20 Ukrainian companies for assets they lost when Crimea joined Russia.

Besides, the Dutch court ordered Russia to cover the legal expenses of 9.2 million dollars and pay interest for late payment.

The Russian Justice Ministry said it does not recognize the decision of the Permanent Court of Arbitration due to the "lack of arbitration jurisdiction" to consider the case.

Crimea was absorbed into Russia in March 2014 following a local referendum, which was rejected by Ukraine.

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