Date: 9 months ago   Category: Finance

VEB has explained the reason of the beginning of an investment dispute with Ukraine — Rambler News Service


Photo: Интерпресс / the Vice-president, the head of legal directorate of VEB Igor Krasnov has explained to PhotoXPress.ru why the state corporation initiated an investment dispute with Ukraine after arrest of stocks of Prominvestbank (the Ukrainian subsidiary of VEB). "VEB initiated an investment dispute in connection with creeping expropriation of an asset in Ukraine, since 2014. The lack of appropriate legal protection of the Russian companies in Ukraine, including in courts, only one of important signs of such expropriation and in addition is violation of a most favored nation treatment for the Russian investor who guarantees the agreement with Ukraine of 1998 on protection of capital investments" — Krasnov has told RNS. Earlier it became known that the Court of Appeal of Kiev has arrested on September 5 stocks of Prominvestbank (Ukrainian "subsidiary" of VEB) and Ukrainian "subsidiaries" of Sberbank and VTB (all — Kiev). Has been seized in the claim of a number of the companies which connect with the Ukrainian businessman Igor Kolomoysky. A claim is submitted in pursuance of the decision of Arbitration court of the Hague of May 2 on collecting from Russia of compensation for the real estate "selected" in the Crimea. "It is necessary to understand that the arbitration court in the Hague considered case where a defendant was the Russian Federation, but not financial institutions which stocks are arrested by the decision of arbitration court in Kiev. VEB as NPO has no participant and isn't the property of the Russian Federation and also doesn't answer financially for obligations the Russian Federation by law and the principles of international is right" — Krasnov has emphasized. Earlier, on September 18, Kommersant has reported that VEB has sent the letter to the president of Ukraine Petro Poroshenko, the prime minister of the country Vladimir Groysman, the Minister of Foreign Affairs Pavel Klimkin, the Minister of Economic Development and Trade Stepan Kubivu and the head of the National Bank of Ukraine Yakov Smoly. The state corporation specifies in this letter that Kiev has violated the agreement of 1998 on mutual protection of capital investments concluded with Russia, and suggests them "to communicate and enter immediately negotiations on friendly settlement of a dispute".

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