Oschadbank wins appeal against Russia’s compensation of $1.5 billion in damages
4 July 2025 00:25
The Paris Court of Appeal upheld the 2018 decision, which ordered Russia to compensate Oschadbank for $1.5 billion in damages caused by the annexation of Crimea, and additionally recovered 300 thousand euros in court costs from Russia. This was reported by "Komersant Ukrainian" with reference to the press service of Oschadbank.
“The decision of the Paris Court of Appeal, as well as the recent seizure of Russian assets in France worth more than EUR 87 million by Oschadbank, is part of the bank’s systematic work to compensate for the damage caused by the aggressor. We are the first banking institution to win such a case against the Russian Federation, and we consider our progress in this case a benchmark that gives hope to many Ukrainian businesses to achieve justice for the losses caused by the Russian invasion of Ukraine,” said Serhiy Naumov, Chairman of the Management Board of Oschadbank.
According to Rosa Tapanova, member of the Supervisory Board of Oschadbank, the amount of compensation awarded for recovery exceeds $1.5 billion, and the bank will continue to take all possible measures to enforce the decision and recover the funds from the Russian Federation.
“We understand that the Russian Federation will never voluntarily comply with the court decision and are prepared for a long fight. At the same time, we are confident that we will win, and Russia will pay not only the amount of damages, but also interest for all this time,” said Arsen Miliutin, Deputy Chairman of the Board.
He added that the bank also continues to collect substantiated evidence to further recover compensation from the aggressor for new losses caused by the full-scale invasion that began in 2022.
