June 06, 2024
The president, the government, and
other authorised bodies of russia
received the notice of dispute. The
company's actions aim to
compensate for the losses caused by
the destruction of the Kakhovka
hydroelectric power plant.
Ukrhydroenergo
has initiated investment
arbitration proceedings against
the russian federation
The company believes that initiating international
arbitration process is the most promising way to
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compensate for the losses from the terrorist attack on
the Kakhovka HPP. Ukrhydroenergo relies on the
successful experience of Ukrainian companies in
resolving investment disputes after the annexation of
Crimea and the international recognition of
investment arbitration awards.
The basis for initiating the process is the 1998
Agreement on the Promotion and Reciprocal
Protection of Investments between the governments
of Ukraine and russia, which expires on 27 January
2025. Under the terms of the agreement,
Ukrhydroenergo completed the mandatory stage of
sending a dispute resolution notice before filing a
claim. Once the six months cooling off period expires,
Ukrhydroenergo will initiate the arbitration.
It is worth reminding that on the night of 06.06.2023
at 2:50 am, the russian occupiers carried out a
terrorist attack with the explosion of the Kakhovka
hydroelectric power station facilities, which
destroyed the Kakhovka HPP.
With the assistance of the Energy Community
Secretariat and the participation of two law firms, the
company is developing a high-level litigation and
arbitration strategy to hold the russian federation
accountable for the targeted attacks on the
company's infrastructure and assets, including the
destruction of the Kakhovka HPP. The notice of
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dispute was prepared in cooperation with a high-level
international law firm and the Secretariat under the
Ukraine Legal Support Platform initiative.