Oschadbank seized Russian assets worth $99 million due to illegal expropriation of its branch in Crimea

The state-owned Oschadbank has secured the seizure of Russian assets in France worth around €87 million as part of compensation for the expropriation of its assets in Crimea following the 2014 annexation. This decision was made possible by a 2018 ruling by the Paris Arbitration Court, which awarded Oschadbank more than $1.1 billion in compensation.

The bank has priority rights to recover compensation from the seized property. Oschadbank CEO Serhiy Naumov noted that this is the first Ukrainian state-owned company to receive such a ruling. Supervisory Board member Roza Tapanova emphasised the symbolic significance of the ruling being handed down in France, a country that actively supports a just peace for Ukraine.

Source: KyivPost