KYIV, July 23 – The Kyiv Court of Appeals has recognized and granted permission to execute the decision of the International Court of Arbitration in Paris of November 26, 2018 to compensate Oschadbank for more than $1.1 billion of losses caused by the annexation of Crimea by Russia.

The court by its ruling dated July 17 of this year ordered the issue of writs of execution for the recovery from the Russian Federation represented by the Ministry of Justice in favor of Oschadbank of $1.111 billion of damages plus interest since March 31, 2014 at the rate of semi-annual LIBOR plus 2% and other expenses of $3.87 million.