Oschadbank has achieved the arrest of Russian assets in France.

Oschadbank has registered an arrest on Russian assets in France amounting to approximately 87 million euros, which was confirmed to the bank on April 23. According to French law, Oschadbank has a priority right to satisfy its claims from the arrested property. France has recognized the decision of the Arbitration Tribunal from 2018 regarding the claim of JSC 'Oschadbank' against the Russian Federation for over 1.11 billion US dollars. This decision concerns the compensation for losses that Oschadbank suffered due to the illegal expropriation of its assets in Crimea following Russia's illegal invasion of Ukraine. 'The seizure of assets of the aggressor country in favor of the country that suffered an unjustified attack is one of the manifestations of the inevitability of punishment for the war crimes committed by Russia in Ukraine. It is symbolic that the first decision on the seizure was made precisely in France, which is a leader in Europe in the negotiation process for a just peace for Ukraine. All our previous experience of lawsuits against Russia in this case indicates that this decision will not be executed voluntarily and that Oschadbank will face a long struggle for the realization of these assets. But we know how to work 'in the long run'. We are confident that justice will prevail,' stated Roza Tapanova, a member of the supervisory board of Oschadbank. 'The arrest of Russian assets that has occurred is part of Oschadbank's years-long systematic work being carried out in various jurisdictions. Oschadbank acts in accordance with the norms of international law, ensuring legal protection. We were the first state company to obtain an arbitration decision regarding compensation for losses due to illegal expropriation by Russia in Ukraine. We will do everything in our power to continue to lead in the seizure of arrested property, relying on the highly professional team of the bank and on leading international legal advisors we have engaged,' emphasized Serhiy Naumov, Chairman of the Board of Oschadbank. 'Despite the successful progress in recovering losses in France, we will continue to use all available legal means to enforce the arbitration decision regarding Russian assets. In addition, we are carefully documenting all losses incurred by the bank after 2022, which will form the basis for further lawsuits against the aggressor country,' commented Arsen Milyutin, Deputy Chairman of the Board of Oschadbank.