The permanent chamber of the arbitration court in The Hague will determine the amount of PrivatBank's losses, which Russia must compensate for the bank's assets in occupied Crimea. The final hearing is scheduled to begin on October 10, 2022.

 This was reported by the press service of PrivatBank.

 "The bank is confident that sufficient evidence has been provided to the court, including the reports of well-known damage assessment experts, which will allow the court to accurately determine the significant damages caused to the bank," the statement said.

 As noted in the press service, in 2015 PrivatBank filed a lawsuit in the arbitration court against Russia in accordance with the 1998 bilateral agreement on the promotion and mutual protection of investments.

 In these arbitration proceedings, to which Russia has chosen to opt out, the Permanent Chamber of the Court of Arbitration in The Hague issued an interim arbitral award dated February 24, 2017 and a partial arbitral award dated February 4, 2019 in favor of the bank, accepting the bank's main positions on certain jurisdictional issues and confirming that Russia illegally expropriated the Bank's assets in Crimea.

 In 2019, Russia resumed its participation in the proceedings and applied to the Court of Appeal in the city of The Hague in the Netherlands, in which it asked to review or cancel such arbitration awards. On July 19, 2022, the Court of Appeal rejected Russia's appeal in its entirety.

 "At the moment, the arbitration proceedings are at the decisive stage of determining the amount of the damages, the arbitration court should make a decision regarding the compensation of which by Russia," the bank said in a statement.

 It will be recalled that in 2019 the Permanent Chamber of the Arbitration Court in The Hague refused the Russian Federation to review the issue of jurisdiction and breach of obligations in the case of PrivatBank.