Oschadbank has won another court victory in the case against the Russian Federation for compensation for losses resulting from the annexation of Crimea

On July 1, 2025, the Paris Court of Appeal upheld the position of Oschadbank, rejecting the appeal of the Russian Federation and upholding the decision of the Paris Arbitration Tribunal of November 26, 2018, which ordered the aggressor country to compensate the losses incurred by the bank as a result of the annexation of Ukrainian Crimea.

The Court of Appeal also stated that the decision of the Paris Arbitration Tribunal of November 26, 2018, is recognized in France and additionally recovered EUR 300 thousand in court costs from the Russian Federation.

Yesterday, this decision became public and was covered by international media.

"Oschadbank's victory in the case against the Russian Federation proves once again that the desire to make the aggressor state legally responsible for the damage caused by the occupation of part of the territory of Ukraine has good prospects. The amount of damages ordered by the court exceeds USD 1.5 billion, and Oschad will continue to do everything possible to recover this amount from the Russian Federation," said Rosa Tapanova, member of the Supervisory Board 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 Oschad, is part of the bank's systematic work to compensate for the losses 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 Sergii Naumov, Chairman of the Management Board of Oschadbank.

"Today, we are not only successfully defending our position in court but also continuing to work on the enforcement of the arbitral award against Russian assets in all possible jurisdictions. We realize that the Russian Federation will never voluntarily comply with the court's 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. In addition, we continue to collect substantiated evidence to obtain compensation from the aggressor for new losses incurred during the active phase of the war, which began in 2022," commented Arsen Miliutin, Deputy Chairman of the Management Board of Oschadbank.