The court in Austria allowed to sell Russian real estate at the suit "Naftogaz"

The court in Vienna satisfied the lawsuit of the Ukrainian “Naftogaz” and allowed the sale of more than 20 objects of Russian real estate in Austria as compensation for the lost assets of the company in the Crimea after its annexation in 2014. The decision is associated with the Decree of the International Arbitration in The Hague, which in 2023 ordered Russia to pay more than $ 5 billion.

According to the 1958 New York Convention, if Russia does not agree to voluntarily pay compensation, Naftogaz will be able to achieve the enforcement of arbitration in countries where Russia has property. The total value of real estate falling under the decision of the Vienna court is estimated at 120 million euros.

According to the head of the company Sergei Koretsky, similar cases are now considered in the courts of other countries. “Sooner or later Russia will pay for everything. Necessarily, ”said Koretsky. The decision of the Austrian court is not yet final, Russia can appeal it.