A coalition of Ukrainian companies want a U.S. federal court to order Russia to pay a nearly $35-million foreign judgment, with the hope they can eventually access some of the country’s assets in the United States.
A lawyer for the companies, James Boykin, said the freezing of Russian assets as part of recent U.S. sanctions could offer a chance for his clients to collect. The petition said Russian forces seized and looted petrol stations owned by the companies because Ukrainian tycoon and former government official Igor Kolomoisky, a part owner of petitioner Sabil, was a Kremlin critic. Kolomoisky was sanctioned by the United States in 2021 for alleged corruption.
An international convention and U.S. law allow U.S. courts to enforce foreign arbitration awards. Last month Yukos Capital, an affiliate of the Yukos Oil company expropriated by Russia nearly two decades ago, filed its own D.C. court petition to enforce a $5-billion arbitration award against Russia.
I hope the foreign countries seize every dollar Russia has and gives it to the people of Ukraine
Wake me up when the big guy sends me my cheque.