The Ukraine appealed against the verdict about the Arbitration Court about payment to Tatneft of $112 million

The Ukraine has appealed against the verdict of the International Arbitration Court about the payment to Tatneft of $112 million within the suit about the property right for the stocks of Ukrtatnafta, The Global Arbitration Review reports.

In the middle of August, the International Arbitration Court in Paris decided that the Ukraine should pay to the Russian Tatneft $100 million within the suit about the property right for the stocks of Ukrtatnafta.

The Minister of Justice of the Ukraine, P. Petrenko says that the verdict of the court has not come into the legal force as yet. It partially satisfied the suit of Tatneft for a sum of $100 million. The Ukraine will contest the verdict brought by the International Arbitration Court.

The verdict was made on August 29th. Tatneft demanded in the case to charge from the Ukraine the losses of $2.4 billion.

Ukrtatnafta was founded in 1994 on the basis of the Ukrainian Kremenchug oil refinery under the orders of the presidents of the Ukraine and Tatarstan. Earlier the companies close to Tatneft held 18.3% in Ukrtatnafta, the Ministry of Land and Property Regulations of Tatarstan 8.6%.