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Russian Bank threatens Ukraine arbitration

Российский банк угрожает Украине арбитражемThe subject of the claim will be a collection of “Vnesheconombank” .

The Russian “Vnesheconombank” decided to initiate an investment dispute to international arbitration against Ukraine because of the arrest of shares in subsidiary Prominvestbank .

As the defendant was going to be the Ukraine as a state.

“The subject of the claim will be a collection of “Vnesheconombank” from Ukraine compensation for violation of the standards of investor protection envisaged by the intergovernmental agreement, as well as for the illegal expropriation of investments”, – the newspaper writes.

“In the framework of the decision of the first procedural step was the direction of the Vnesheconombank as an investor in the Ukraine written notification of the investment dispute,” said the Bank.

“If the dispute is not settled by negotiation, it shall be referred to the Arbitration Institute of the Stockholm chamber of Commerce. The Bank is ready to use all instruments provided by both Russian and international law, to protect the rights and legitimate interests of Vnesheconombank”, – said the press service.

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