KYIV, June 23 – Naftogaz, together with five companies of Naftogaz Group, has filed a motion to the United States District Court for the District of Columbia to confirm the earlier award by the Arbitral Tribunal of the Permanent Court of Arbitration at The Hague that bound Russia to pay $5 billion (including interest) in compensation for damage and lost property in Crimea.
According to the company's press release, published on Friday, the motion is necessary for the enforcement of the award. In accordance with the 1958 New York Convention, Naftogaz has the right to initiate the process of recognition of and admission to award enforcement in countries hosting Russian assets.
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