The Ukraine has lost the legal proceedings in the arbitration court to Tatneft

The state will give their answer to the acquisition of Ukrtatnafta by the companies close to Privat Group.

At the end of July, the International Commercial Arbitration Court in Paris made the verdict on the battle between the Russian Tatneft and the Ukraine in favour of the Russian company. Tatneft claimed to charge from the Ukraine the losses it bore after the raider acquisition of Ukrtatnafta by Privat Group in 2007. Tatneft claimed $2.4 billion, a source in the Ministry of Justice of the Ukraine tells.

On July 29, the International Commercial Arbitration Court made the verdict on the claim of Tatneft. Initially, the claimed sum was $520 million but in 2009 it was enlarged to $2.4 billion. However the court agreed compensation manifold times less. Now the Ukraine elaborates an appeal to the Appeal Court of Paris that should be made within a month, i.e. before August 29th.