Denial of media reports about Ukraine’s involvement in international court proceedings initiated by PJSC PrivatBank

3/14/17

Recently some media have circulated false information with reference to the words of Minister of Finance Oleksandr Danylyuk reporting that Ukraine is actively engaged in international court proceedings initiated by PJSC PrivatBank against the Russian Federation regarding the compensation of damage from the loss of the banking business and assets due to illegal Crimea annexation.

This information is not truthful. The Ukrainian State does not participate in the claims of PJSC “PrivatBank” and Financial company Finilon LLC against the Russian Federation. The claims were initiated by these companies in line with the UNCITRAL Arbitration Rules regarding a violation of their rights under the Agreement Between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments dated 27 November 1998 in respect of their investment in a banking network in the Crimean Peninsula.

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