Sergey Pugachev sues Russia for $6 billion

Sergey Pugachev sues Russia for $6 billion
Sergey Pugachev

The court will take a decision within a month.

Mezhprombank former owner and Federation Council ex-member Sergey Pugachev demanded $6 billion from the Russian government at a hearing at the International Arbitration Court under International Chamber of Commerce (ICC) in Paris, TASS reported citing AFP.

Sources of the agency said that Pugachev's representatives insisted on blocking Russia's credit balance of $6 billion as a "minimal partial compensation" to the former senator. He filed a lawsuit against the Russian authorities to the Arbitration Court in The Hague in 2015, demanding compensation of $12 billion for property and assets that had been illegally expropriated, as he claimed.

The decision of the arbitration court under the ICC will be announced only in a month, TASS wrote.⁠



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