Ukraine's Oschadbank secures EUR 87 mln asset freeze in France over Crimean losses
Kyiv-based Oschadbank has secured the seizure of approximately EUR 87 million in Russian assets in France as part of its legal battle for compensation over assets lost in Crimea.
"The asset freeze in France is the result of years of systematic work by Oschadbank in multiple jurisdictions. The bank operates in strict accordance with international law to ensure legal protection," said Oschadbank Chairman Serhiy Naumov in a press release on Thursday.
France has recognized a 2018 arbitration tribunal ruling in Oschadbank's favor, ordering Russia to pay over $1.11 billion in damages for the illegal expropriation of the bank's property in Crimea following Russia's occupation of the peninsula.
Under French law, Oschadbank, as the first claimant, has priority in satisfying its claims from the seized assets.
"We are meticulously documenting all damages sustained by the bank since 2022 – these will serve as the basis for further claims against the aggressor state," said Arsen Miliutin, Deputy Chairman of Oschadbank's Management Board.
According to the National Bank of Ukraine, Oschadbank ranked second among Ukraine's 61 banks in terms of total assets as of early 2025, with UAH 963.39 billion (12.4% market share).
