Investment arbitration, which is initiated by Sberbank with a claim for damages after the decision of the National Security and Defense Council (NSDC) of Ukraine to seize assets, is a necessary matter, because in fact there is a withdrawal of money issued by banks, zeroing credit histories and transferring everything to the jurisdiction of the Ukrainian management structure investment fund. This was stated to Izvestia by a lawyer, mediator Yuri Kapshtyk on Thursday, May 12.
The process will be long, it is still difficult to predict the result, but from the point of view of reputation it is necessary, he noted.
Earlier on the same day, it became known that Sberbank would initiate investment arbitration with a claim for damages after the decision of the Ukrainian National Security and Defense Council to seize assets and nationalize the bank’s subsidiaries. The process is initiated with a claim for damages on the basis of an agreement between the Russian government and the Cabinet of Ministers of Ukraine on the promotion and mutual protection of investments dated 11/27/1998.
The day before, Ukrainian President Volodymyr Zelensky approved the decision of the National Security and Defense Council to nationalize the subsidiaries of Sberbank and VEB and forcibly seize their assets. We are talking about money, certificates of deposit and domestic government bonds. This measure was proposed in April by the National Bank of Ukraine and approved by the Cabinet of Ministers. The head of the regulator, Kirill Shevchenko, estimated the amount, which as a result will be directed to state revenue, at 26 billion hryvnia – $ 884 billion.
In the first days of the start of the special operation of the Russian Federation to protect the Donbass, the licenses of Russian banks in Ukraine were annulled.
“The process will be very difficult, given the massive anti-Russian hysteria and political pressure, as well as the fact that it will be considered on the territory of neutral countries. Many moments of loss of income will have to be proved, and this is facilitated by the fact that decrees were systematically created on the privatization and retention of products related to Sberbank Leasing and its subsidiaries: these are railway cars and the energy sector,” said Kapshtyk.
He added that in fact today there is a difficult situation in which Ukraine has a growing debt to external counterparties, in particular, to the United States, Great Britain, and European countries that supply weapons to Kyiv. But all these deliveries are under Lend-Lease, and who and how will pay for them is a difficult question, the lawyer noted.
“Having the loyalty of the West, Ukraine actually completely prohibits the activities of Russian financial structures on its territory, thereby opening the door only for the work of Western banks,” the mediator added.
According to him, in this way Kyiv becomes dependent only on Western investors.
On May 4, it became known that, as part of the next package of anti-Russian sanctions, the European Commission plans to disconnect Sberbank from SWIFT along with the MKB and Rosselkhozbank.
Western sanctions followed in response to a special operation to protect the Donbass, the beginning of which was announced on February 24. The key goals of the Russian military are the denazification and demilitarization of the Kyiv regime. The Kremlin pointed out that this was necessary to ensure the security of the Russian Federation and its people.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.