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Before Russia launched a full-scale invasion of Ukraine in February 2022, it seized Crimea in 2014 and annexed the peninsula, triggering sanctions from Western governments.

Two years ago in April 2023, Naftogaz said the arbitration court in The Hague ordered Russia to pay $5 billion in compensation for unlawfully expropriating its assets in Russian-annexed Crimea in 2014.

Paris’s main civil law court has recognised The Hague ruling, Naftogaz said in a statement, describing it as “a key legal victory in its global enforcement campaign”.

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Naftogaz’s CEO Roman Chumak said the company continued to coordinate enforcement efforts across multiple jurisdictions, with successful actions already underway in the United Kingdom and Finland.

“The company remains resolute in its efforts to recover the full value of the award and defend the rights of Ukraine’s state-owned enterprises on the international stage,” Chumak said.