Russia Must Pay Ukraine Oil Co. $44.4M, Arbitrators Say

Law360 (April 16, 2019, 8:47 PM EDT) -- Russia has been ordered by an arbitral tribunal to pay Ukraine's largest oil company $44.4 million for forcibly seizing its offices and petrol stations in Crimea shortly after Russia annexed the disputed peninsula in 2014, according to a Tuesday statement.

PJSC Ukrnafta said the tribunal concluded in an April 12 award that Russia had wrongly sent in armed forces to seize the Ukrainian company's administrative offices and 16 petrol stations — including convenience stores, equipment, and associated permits and licenses — following the April 2014 annexation of Crimea.

The tribunal ordered Russia to pay $44.45 million plus interest and more than...

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