Ukraine was asked to return a large sum through the court of the Hague

A Chinese investor demanded that Ukraine return $ 4.5 billion in the court of The Hague Motor Sich. The Chinese company Beijing Skyrizon, one of the investors in Motor Sich, is demanding compensation for losses caused by the decision of the Ukrainian government. The amount of the claim turned out to be large – $ 4.5 billion. RIA Novosti reports.

“In accordance with the” Agreement between the government of Ukraine and the government of the PRC on the attraction and mutual protection of investments “, which entered into force on October 31, 1992, Chinese investors demanded to recognize Ukraine in breach of the bilateral investment agreement and to pay the plaintiffs full compensation for all losses incurred,” they wrote Chinese investors.

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Beijing Skyrizon was prompted to seek defense in the Permanent Court of Arbitration in The Hague by “the unfair treatment of the Ukrainian state towards Chinese investors over the past five years”, as well as “continuous use of illegal measures.” Investors from China said that the Ukrainian authorities politicize the economy and abuse the concept of national security. To achieve justice, Beijing Skyrizon wants to get its investment back.

Motor Sich is engaged in the production of engines for aviation. In 2019, half of the company's shares were bought by Chinese investors. The Security Service of Ukraine became interested in the deal almost immediately. In March 2021, Ukrainian President Volodymyr Zelenskyy signed a decree on the nationalization of Motor Sich.

Earlier, Anatoly Amelin, director of economic programs at the Ukrainian Institute of the Future, warned of such a development of events. According to Amelin, Zelensky's decision seriously affected the investment climate in Ukraine.