Oschadbank has initiated a new arbitration process against the Russian Federation

According to hvylya.net: Oschadbank has decided to participate in international arbitration due to losses incurred as a result of its activities in the occupied territories. The bank has sent an official notification to Russia regarding the dispute arising from the agreement between Ukraine and the Russian Federation, which provides for investment protection and encouragement.

According to the bank's data, the notification indicates a number of significant violations by Russia of its obligations under the agreement and norms of international law in general.

Deputy Chairman of the Board of Oschadbank Arsen Miliutin noted that this is the first step in a new international arbitration process against Russia. If Russia does not compensate the bank for the incurred losses within six months, the case will be referred to an international arbitration court.

Previously, Oschadbank managed to obtain an arbitration ruling in its favor on a dispute for 1.1 billion US dollars due to the annexation of Crimea. The bank is currently seeking compensation through Russian assets worldwide.

Oschadbank is utilizing existing legal mechanisms to protect its interests and recover losses incurred as a result of its operations under occupation.