GAR reported on Ukraine's attempt to challenge the decision to pay $104 million to Tatarstan

The Paris Court of Appeal will consider Ukraine's complaint against the arbitration decision, which ordered it to pay $104 million in favor of the Ministry of Land and Property Relations of the Republic of Tatarstan. This was reported by the newspaper Kommersant on April 29 with reference to the Global Arbitration Review.

It is specified that in 2016, the Republic of Tatarstan and the Ministry of Land and Property Relations of Tatarstan initiated investment arbitration against Ukraine, claiming approximately $ 300 million. The dispute was related to the loss of their 28.78% stake in Ukrtatnafta CJSC, a joint venture with the Ukrainian state that owned the Kremenchuk Oil Refinery. The arbitration proceedings were conducted according to the rules of UNCITRAL under the administration of the Permanent Court of Arbitration in The Hague.

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