Energoatom demands compensation from Russia for occupation of ZNPP
Energoatom demands compensation from Russia for occupation of ZNPP (Photo:REUTERS/Alexander Ermochenko)
Energoatom is demanding compensation from Russia for the occupation of Zaporizhzhya NPP, acompany statement said on April 14.
The state NPP operator wants Russia to pay compensation for expropriating investments in energy facilities in Zaporizhzhya Oblast, including the Zaporizhzhya Nuclear Power Plant, the largest such facility in Europe.
Energoatom served the notice of dispute to Russian representatives in March 2023.
The written notice refers to the enormous damage caused to Energoatom by the aggressor state, which requires compensation.
Should Russia not resolve the situation, Energoatom will submit the dispute to international arbitration.
Legal support was provided by international legal advisor Shearman & Sterling LLP. The law firm has experience in similar cases against Russia and is familiar with resolving complex investment arbitration disputes.
Zaporizhzhya NPP has been under Russian occupation since March 2022.
State-owned Energoatom recorded UAH 3.31 billion ($89.6 million) in net losses in 2022.
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