Tobacco companies are ready to sue Ukraine in arbitration — media

Табачные компании готовы судиться с Украиной в арбитраже — СМИ

Photo: Naked Science

The arbitration will hit Bo investment budget of Ukraine

In the autumn of last year under litigation tobacco manufacturers with the ACU due to the billion fine. The company is ready to file a claim to arbitration, the media write.

International tobacco company is ready to file a claim in arbitration against Ukraine billions of hryvnia, the magazine writes Case.

The company intends to challenge in the international courts of the penalty of the Antimonopoly Committee 6.5 billion, if the Ukrainian court does not satisfy their claims.

“But in this case, the tobacco companies will receive the grounds for appeal in international investment arbitration: it confirms the illegality of the decision of the AMC would oblige the government of Ukraine to compensate for the loss of international tobacco companies,” — says the publication.

“Such actions by the AMCU can not only paralyze the work of four international companies, which are among the ten largest taxpayers in Ukraine, but to stop the supply of legal tobacco products for more than 7 million consumers in Ukraine and to create conditions for an unprecedented growth of illegal trade,” govoritsa the address of the Association ukrtûtûn in the name of President Vladimir Zelensky.

The economy Ministry warned that litigation threatens Ukraine with loss of revenues.

“Investment claims and large losses of revenue in the budget is what we can expect”, commented the Deputy Minister Svetlana Panayotidi.

Recall Acoustoelectric manufacturers sigareti distributor of Tedis Ukraine 6,5 billion UAH in October of last year. Since then, the ongoing litigation.