"We cannot turn a blind eye to these enormous losses and live on as if nothing had happened. Because our Crimea-based power grid alone costs about a billion dollars. It consists of thousands of power transmission lines, dozens of substations and much more, not to mention two recreation and retreat centers, where Ukrainian energy workers were previously improving their health. Besides assets, we also lost profit they generated," Kovalchuk said.
According to him, Ukrenerho served Russians a formal written notice on the investment dispute regarding assets in the occupied Crimea a few days ago. The papers were received by Foreign Minister Sergey Lavrov, Finance Minister Anton Siluanov, Justice Minister Alexander Konovalov, Prime Minister Dmitry Medvedev and President Vladimir Putin.
Covington & Burling LLP law firm will act for the Ukrainian company in the dispute.
If the dispute is not settled by September, the company intends to follow the path taken by Naftohaz Ukrainy and file a suit in international arbitration tribunal.
"Our claim will cover not only the assets we lost due to the peninsula annexation, but also the incomes that were lost because of such a move," Kovalchuk said.