Business seems to be winning over politics once again in Ukraine: President Petro Poroshenko has signed a decree which will mandate the ongoing re-calculation of indemnification for the loss of Crimea, caused by what he calls the “temporary occupation of part of Ukraine’s territory”, referring to the peninsula’s reunification with Russia.
In one month the government has to take measures on holding talks with the Russian party on settling the dispute between Ukraine and Russian Federation on the “interpretation and application of an agreement between the two on the encouragement and mutual protection of investments.”
Earlier in May the Ukrainian Justice Ministry already offered its estimation of the losses in the form of a 17-volume calculation that values the territory, including such items as the 300 kilograms of gold kept at the Crimea branch of the Ukrainian central bank, at 1.08 trillion hryvnias ($89.6 billion).
Meanwhile, Gross Domestic Product (GDP) in Ukraine was worth $131.81 billion in 2014, according to data released by the World Bank.
Kiev has even threatened to nationalize Russian overseas property in retaliation.
The decision is now up to the European Court of Human Rights.
