Ukraine's justice minister has said the government would use every possible legal mechanism to fight a nearly three-year-old, $144 million arbitration award to Russia's regional oil producer Tatneft. In the past month Tatneft has filed motions in US, British and Russian courts seeking help in securing the award, and on Thursday Ukrainian Justice Minister Pavel Petrenko told local media that the country would refuse to acknowledge the international arbitration decision until all legal possibilities have been exhausted. Ukraine's determination not to recognize the court's decision in favor of a Russian entity points to the difficulties inherent in resolving any arbitration dispute between the two countries, including the highly anticipated disputes involving the supply and transit of natural gas, the first of which should see a verdict in upcoming days (IOD Sep.27'16).
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