KIEV, April 11 Ukraine's largest private power
and coal producer, DTEK, will seek compensation from Russia for
the loss of its Crimea-based assets following the 2014
annexation, the company said on Tuesday, estimating its losses
to be at least $500 million.
The Ukrainian state and a number of Ukrainian firms,
including banks, are in the process of seeking redress for lost
assets and revenue as a result of the illegal seizure of the
Black Sea peninsula by Russia from Ukraine.
DTEK said it had taken a few years to assemble the documents
needed for its claim, but it was now in a position to negotiate
for compensation for its loss of its stake in Krymenergo.
"If the dispute is not solved through talks, DTEK Krymenergo
is prepared to submit it for consideration by international
arbitrage," DTEK said in a statement.
"The amount of compensation for actual and potential losses
... could amount to more than $500 million," it said.
The Russian Energy Ministry declined to comment on the
claim. Russia has previously declined to contest legal claims
over Crimea by Ukrainian firms, arguing that international
arbitrators had no jurisdiction.
The annexation and subsequent Russia-backed separatist
conflict in eastern Ukraine has hit the fortunes of DTEK, many
of whose mines lie in the coal-rich Donbass basin that has been
the epicentre of three years of fighting.
In March, DTEK said it had lost control of its largest mines
in rebel-held territory, as well as a power plant and power
DTEK is part of the business empire of Ukraine's richest
man, Rinat Akhmetov.
(Reporting by Natalia Zinets; Additional reporting by Anton
Zverev in Moscow; Writing by Alessandra Prentice)