Oschadbank has received confirmation of the seizure of Russian assets in France worth approximately €87 million, as part of compensation for the bank's lost assets in Crimea.
This was reported by the bank's press service.
The confirmation of the seizure was received by the bank on April 23. According to French law, Oschadbank, as the first claimant, has priority rights to satisfy its claims from the seized assets.
The French Republic has recognized the decision of the Arbitration Tribunal from 2018, following Oschadbank's lawsuit against the Russian Federation, which amounts to over $1.11 billion USD in compensation for the losses the bank incurred from the illegal expropriation of its assets in Crimea after the peninsula's occupation.
"The seizure of assets from the aggressor country in favor of the country that suffered an unjust attack is one manifestation of the inevitability of punishment for the war crimes Russia is committing in Ukraine. It is symbolic that the first decision on such a seizure was made in France, a leader in Europe in the negotiations for a just peace for Ukraine," said Oschadbank Supervisory Board member Roza Tapanova.
She added that previous court experience with Russia shows that this decision will not be voluntarily executed, and the bank is prepared for a long struggle to enforce these assets, but they know how to operate and are confident in the victory of justice.
