The Ukrainian national oil and gas company, Naftohaz Ukrainy, plans to sue Russia over the assets lost in Crimea following the peninsula’s annexation by Russia last year, Naftohaz CEO Andry Kobolev said on November 4 (Interfax, November 4). The seizure by Russia of Chornomornaftohaz, Naftohaz’s subsidiary for oil and gas deposits in the Black Sea and the Sea of Azov, dashed Ukraine’s plans to increase domestic gas production with the help of foreign investment into offshore deposits. This would have allowed Ukraine to further diminish the country’s dependence on Russian gas. Naftohaz will be filing its lawsuit separately from the …read more
Source: The Jamestown Foundation