: Ukraine wins back tank farm from Russian-occupied authorities in Crimea

18:28 Jun. 27, 2016

Ukraine wins back tank farm from Russian-occupied authorities in Crimea

People carry a Russian national flag as they take part in a rally marking the second anniversary of Crimea's reunification with Russia (Getty Images)

Sevastopol court decides in favour of Chernivtsi-based company

Sevastopol's Arbitration Court, which is controlled by Russia-backed occupation authorities in Crimea, declared that Ukraine should take back its oil tank farm obtained by occupation authorities following the Black Sea peninsula annexation.

The relevant decision has been published on the website of Sevastopol's Arbitration Court, reports Krym.Realii.

"The court declares the Ukrainian company Stemv Group (from Chernivtsi) owns immovable property (the oil tank farm)", the court officials state.

The document states, Stemv Group purchased the tank farm in Sevastopol in 2013, in full compliance with the Ukrainian legislation.

The Property and Land Relations Department of Sevastopol's Russian-backed authorities was the party to be charged.

Read also Russia preparing to drill for oil in Ukraine's marine economic zone

The court's decision comes into force one month after it is adopted, in case no party appeals against the decision.

The amount of claims Ukraine and Russia launched in international courts against each other reached almost USD 100 billion.

Ukraine wants Russia to pay more than USD 63.5 billion (USD 37 billion constitute a compensation for Crimea's annexation), whereas Russia wants Ukraine to pay off USD 35 billion.

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