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Investment treaty awardUnpaid

Lugzor v. Russia

Crimean businesses

Headline amount
$60.2MPrincipal
Respondent
RussiaState
Awarded
Oct 4, 2022Corrected December 2, 2022
Status
UnpaidNothing collected

Latest development Jun 9, 2026

The Hague Court of Appeal dismissed Russia’s set-aside action.

The award

Amount awarded
$60.16M plus interest, and €0.63M in costs
Award holder
Lugzor, Libset, Ukrinterinvest, DniproAzot and Aberon
Respondent
Russian Federation
Forum
PCA 2015-29 · Russia–Ukraine BIT · UNCITRAL 1976 · Dutch seat

Challenges

The Hague Court of Appeal dismissed Russia’s set-aside action on June 9, 2026 (ECLI:NL:GHDHA:2026:1960). Any further appeal not verified.

Enforcement

None found.

Recovered to date

None