Naftogaz sends official letter informing on investment dispute over assets in Crimea to Russia
National joint-stock company Naftogaz Ukrainy has sent the official letter informing on the investment dispute under the bilateral agreement on mutual protection of investment to the Russian Federation.
"According to the conditions of the agreement, Naftogaz has sent an official request to hold consultations and negotiations with representatives of the Russian Federation aimed at settling the dispute. If the dispute is not settled via talks, Naftogaz plans to submit it to arbitration court," the press service of Naftogaz Ukrainy reported.
The press service said that the dispute is linked to the illegal seizure of Naftogaz investment on the territory of Crimea.
As reported, Naftogaz Ukrainy has nominated Covington & Burling LLP (New York, the United States) to protect the company's interests as part of litigation around lost shelf assets in Crimea.
Earlier Naftogaz said that the company will challenge the restoration of the control over its assets lost due to occupation of Crimea by Russia via international courts and reimbursement of all incurred losses.
