PJSC CB PrivatBank and Finance Company Finilon initiated arbitration against the RF


Joint Stock Company Commercial Bank PrivatBank (hereinafter referred to as Privatbank) and Finance Company Finilon, Limited Liability Company (hereinafter referred to as Finilon) initiated arbitration in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) against the Russian Federation (hereinafter referred to as the RF) under the Agreement between the Cabinet of Ministers of Ukraine and the Government of the Russian Federation on Encouragement and Mutual Protection of Investments. In their application, Privatbank and Finilon complained about Russia's violation of the Agreement by taking measures that made it impossible to conduct banking activities in Crimea.

April, 2015