The Paris Court of Appeal has upheld a 2018 ruling that ordered Russia to compensate the state-owned “Sberbank” for $1.5 billion in losses caused by the illegal annexation of Crimea.
This was reported by the bankʼs press service.
"The amount of damages to be recovered by the court decision exceeds $1.5 billion, and ʼOschadbankʼ will continue to do everything possible to recover this amount from the Russian Federation," said Roza Tapanova, a member of the “Oschadbank” supervisory board.
The appeal court also indicated that the decision of the Paris Arbitration Tribunal of November 26, 2018 is recognized in France, and additionally recovered €300 000 in legal costs from Russia.
- In April, “Sberbank” seized Russian assets in France worth approximately €87 million in a case of compensation for the bankʼs lost Crimean assets.
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