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Russia Ordered To Pay $1.1B To Ukrainian Bank

Law360 (November 26, 2018, 8:19 PM EST) -- Russia on Monday was ordered by an international tribunal to pay one of Ukraine's largest banks $1.1 billion for expropriating its assets in Crimea following its 2014 takeover of the peninsula.

Russia will have to pay Oschadbank $1.1 billion for its seizure of the bank's assets in Crimea, which a tribunal found to violate an investment treaty with Ukraine. (Getty) The tribunal concluded that the Russian Federation violated its bilateral investment treaty with Ukraine when it took over the business and assets of JSC Oschadbank, otherwise known as the State Savings Bank of Ukraine, after its annexation of Crimea.

The tribunal, composed...

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