The $5 billion lawsuit against Russia’s Gazprom, filed Wednesday, complains that the natural gas company has taken control of its assets in Crimea. This is the third lawsuit between the two firms, and the seventh such lawsuit against Russian owned companies operating in Crimea. Naftogaz says that three of its subsidiaries suffered billions in damages from Russia’s March 2014 annexation of Crimea, a southeastern peninsula jutting out into the Black Sea. In 2013, Ukraine’s president Viktor Yanukovych backed out of a European trade deal in favor of receiving below market rates for Gazprom gas. The battle between Naftogaz and Gazprom serves as a reminder, to some, that the Russians cannot be trusted.

Source: Forbes September 21, 2017 16:18 UTC