Oschadbank is set to take legal action against russia over confiscated assets

This was reported by the bank’s press office.

Oschadbank has suffered significant losses of assets and its ability to continue operations in the Donetsk, Luhansk, Kherson and Zaporizhzhia regions as a result of russia’s invasion.

“We are steadily moving towards real compensation for these losses: according to preliminary rulings, Oschadbank’s claims already exceed $1.3 billion, and this lawsuit is the next step in holding the aggressor state financially accountable,” said Yuriy Katsion, Chairman of the Board of Oschadbank.

In its arbitration notice, the bank documented numerous breaches by russia of its obligations under the intergovernmental agreement, as well as fundamental norms of international law.

As early as 24 July 2025, Oschadbank sent an official notice of dispute to the russian side, to which there was no response.

Katsion also noted that the company understands that russia will not comply with the arbitration award voluntarily. For this reason, he said, Oschadbank’s team is systematically working on its enforcement in various jurisdictions.

The process of forming the international arbitration tribunal is currently underway in accordance with the provisions of the bilateral agreement between the Cabinet of Ministers of Ukraine and the Government of the russian federation on the promotion and mutual protection of investments.

Source: Ekonomichna Pravda