Latest development Oct 6, 2026
PrivatBank announced the final award and said it expects the award to be honored and paid in full.
The award
- Amount awarded
- $180.87M plus interest from April 18, 2014 until payment, and a share of costs (TASS). PrivatBank describes the award as over $327M plus interest, costs and disbursements.
- Current estimate
- Over $327M, according to PrivatBank (October 6, 2026).
- Award holder
- JSC CB PrivatBank (Ukrainian state-owned bank). The claims of co-claimant Finilon were held outside the tribunal’s jurisdiction in 2019.
- Respondent
- Russian Federation
- Forum
- PCA Case No. 2015-21 · Ukraine-Russia BIT (1998) · UNCITRAL · Dutch courts as seat courts
Challenges
Russia’s challenges to the 2017 interim award and the 2019 partial award failed in the Hague Court of Appeal (July 2022) and the Dutch Supreme Court (December 2024). The final award rejected Russia’s illegality objection. TASS notes that Russia may apply to set aside the final award within three months of its dispatch. No application reported.
Enforcement
None reported. PrivatBank says it will take all appropriate steps to secure payment.
Recovered to date
None reported
Notes
The award is not public. TASS gives $180.87M before interest. PrivatBank’s release gives over $327M. The basis of the higher figure was not verified.