Tatneft awarded $112 mln over Ukrtatnafta
MOSCOW, August 26 (RAPSI) - Russian oil company Tatneft said Tuesday that it had been awarded $112 million in compensation over the Ukraine's Kremenchug oil refinery (Ukrtatnafta).
Tatneft, based in Russia’a Republic of Tatarstan, claimed forcible takeover of Ukrtatnafta and seizure of its shares. In May 2008 the company took its case to a tribunal administered by the Permanent Court of Arbitration in the Hague.
The tribunal ruled in July that Ukraine had broken the bilateral investment treaty with Russia and awarded compensation of $112 million plus interest, the statement of the Russian company reads.