A court obligated Russia to pay a Ukrainian bank over a billion dollars

A court obligated Russia to pay a Ukrainian bank over a billion dollars

Russia is obligated to pay a billion dollars to a Ukrainian bank due to the loss of investments in Crimea.

As reported by Le Monde, the Paris court rejected Moscow’s appeal, concluding the years-long legal proceedings between Russia and the Ukrainian bank "Oschadbank."

The conflict originated from a lawsuit filed by "Oschadbank" in 2018 at the international arbitration court in France, where the bank protested the loss of investments in Crimea following the region’s annexation by Russia in March 2014.

The arbitration court sided with the bank and ruled that Russia must pay over a billion dollars. Moscow attempted to contest this decision in the Paris Court of Appeal, but after prolonged proceedings, the appeal was rejected.