Half a billion hryvnias: Ukraine has issued another bill to Russia
24 July 2025 10:51
Ukraine’s claims against Russia, formulated in the form of payments, have expanded. The Kyiv Commercial Court has ruled that Russia must compensate 5 Ukrainian banks for the losses incurred as a result of Russian aggression. This was reported by the Deposit Guarantee Fund, which was the plaintiff in the case, "Komersant Ukrainian" reports.
According to the court’s decision, Russia must compensate UAH 498.5 million.
Details of the court decision
The class action lawsuit combined the losses of five banks:
- “GREEN BANK
- “ERDE BANK
- “UKRGASPROMBANK; UKRGASPROMBANK;
- “BANK “TAVRIKA”;
- “FORTUNA BANK.
The losses were incurred because the assets of these banks – part of the real estate and loan portfolio – ended up in the Russian-occupied territories of Donetsk and Luhansk regions in 2014. As a result of the occupation, the banks lost the ability to dispose of their property.
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Other cases
This is the second such lawsuit against Russia won by the Deposit Guarantee Fund. Earlier, in January 2024, the court ruled to recover more than UAH 1.9 billion from Russia in the case of the Ukrainian Financial World Bank. This decision has entered into force and has been transferred to the executive service.
Two more lawsuits filed by the Fund against Russia are pending in the courts:
- a claim for UAH 651 million in the case of PJSC CB Promekonombank;
- a class action lawsuit for over UAH 920 million for losses incurred by four banks.
Next steps
The Deposit Guarantee Fund preliminarily estimates the total losses incurred by banks as a result of Russia’s actions from 2014 to the beginning of the full-scale invasion at UAH 84 billion. Additional lawsuits will be filed for these losses, the institution says.
The Deposit Guarantee Fund is also preparing a list of losses incurred by banks during the full-scale war. This data will be transferred to the International Register of Losses for Ukraine (RD4U) after it is opened for applications from legal entities.
The court decisions create a legal basis for the future recovery of compensation from Russia at the international level for all losses caused to the Ukrainian banking sector as a result of the aggression.
“We are using all available means of legal pressure on the aggressor country and developing judicial practice where it is still lacking. Our position is that absolutely all losses caused by the occupiers cannot be forgotten. They must be recorded, confirmed by court decisions, and a mechanism for their compensation must be developed.”
– commented Olga Bilay, Managing Director of the Deposit Guarantee Fund.
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