Court ruled IKEA must pay 500 million rubles to Russian businessman

Court ruled IKEA must pay 500 million rubles to Russian businessman

The court upheld the sanction of 500 million rubles IKEA must reimburse to a businessman from Russia.

Ponomarev told the RBC he was satisfied with the court’s decision. According to him, 507 million rubles was only part of the penalty with the total amount of claims exceeding 120 billion rubles. "The amount is mainly interest for delay in payment for more than seven years, five of which saw IKEA evading the debt payment. Instead of repaying the debt, IKEA brought against me five criminal cases and they all were discontinued for lack of evidence. My dispute with IKEA is no longer about the generators, but rather about ethics and values – things our western partners love so much to teach us", Ponomarev said to the RBC.

Besides, Ponomarev said he hoped that IKEA would fulfill its contractual obligations urged by its St. Petersburg main manager Joakim Virtanen, who voluntary surrendered in August, as well as by the special ruling of the Smolensk Regional Court to the Investigative Committee of Russia.

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