Oschadbank counted Russia $180 million fine

Ощадбанк насчитал России $180 млн штрафа

The total debt of Russia to Oschadbank approaching $1.5 billion

The decision of the international court of arbitration in a dispute between Oschadbank and Russia can be enforced in 154 jurisdictions, said Andrew Lush.

State-owned Oschadbank has already accrued to Russia’s 180 million dollars in penalties according to the decision of the International arbitration in Paris on the compensation of 1.3 billion dollars in losses the Bank after the annexation of Crimea.

About it reports UNIAN with reference to the head of the Board oschadbanka Andrew Lush on Thursday, December 6.

“As of now the interest amount is around 180 millions USD. Every day this sum is added to about 100 thousand US dollars,” said Lush.

He noted that Russia does not recognize the decisions, however, there is international law, which recognizes the entire world.

“The arbitration decision is final and binding on the parties. The parties are obliged to carry out the award without delay,” added the banker.

According to him, Russia can not appeal the arbitration decision in the appeal, but only by filing a claim about its cancellation, but the reasons for the cancellation of such decisions in the law of France is very limited.

“We will look for the property of the Russian Federation or state companies of the aggressor country in other countries around the world, to impose on them arrest and to implement. The decision of the international court of arbitration of the investment dispute between the Bank and Russia can be enforced in 154 jurisdictions,” – said the Lush.

Recall, November 26, Oschadbank reported that the court of arbitration in Paris has accepted the decision to satisfy the claim for compensation of damages in connection with lost in the Crimea the investment. The amount of compensation will be $ 1.3 billion plus interest that will accrue from the date of the judgment until actual payment.

The next day it became known that Russia does not recognize the arbitration decision under the claim of the Bank on compensation of losses of $1.3 billion and will try to challenge it.

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