Putin to re-register Krymenergo after Hague's decision on Crimean assets

Ukrainska Pravda
·1 min read
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Vladimir Putin, President of Russia, has handed the stocks of the occupied Ukrainian Krymenergo (local power distributor company) over to the Russian authorities in Crimea.

Source: Putin’s decree published on the Russian legal information portal

Quote: "The proposition of the government of the Russian Federation and the Council of Ministers of the Republic of Crimea to transfer 100 percent of stocks of the JSC Krymenergo to the ownership of the Republic of Crimea shall be accepted."

Details: At the moment the stocks are, according to Putin, "in federal ownership".

Krymenergo is a part of the Ukrainian DTEK power holding. It is the largest power company in annexed Crimea, "nationalised" by Russia after the occupation of the peninsula in April 2014.

Background:

  • In September 2018, DTEK, Ukraine's state-run power concern, started preparing the lawsuit against Russia due to lost assets in Crimea, and in November 2018, it filed a lawsuit to the court of arbitration.

  • At the beginning of November 2023, it was revealed that the International Court of Arbitration in Hague had completely granted the motion of DTEK against the aggressor state, the Russian Federation, which concerned seized assets in illegally annexed Crimea.

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