“Having examined the arguments of the Russian Federation, the arbitral tribunal refused to satisfy all the requirements of S.V. Pugacheva, ”the report said.
According to the Ministry of Justice, Pugachev in 2015, referring to obtaining French citizenship in 2009, initiated international arbitration proceedings against Russia on the basis of an agreement between the USSR and France on the protection of investment.
According to the businessman, his rights as a French investor under this agreement were violated, and the declared amount of claims excluding interest exceeded $ 14.5 billion.
Russia challenged the jurisdiction of the arbitrators to consider Pugachev's claims, stating that the entrepreneur is not a French investor and has not proved that he made investments that are subject to protection by agreement.
"C.V. Pugachev also has to reimburse the Russian budget for the costs of arbitration in the amount equivalent to $ 5.8 million, ”the statement said.
According to the Justice Ministry, in this way, Russia “managed to achieve complete victory” in the dispute with Pugachev and rejected claims worth more than $ 14.5 billion “already at the stage of considering the issue of jurisdiction”.
In March 2017, the Russian Prosecutor General sent a request to France to extradite Sergei Pugachev to France.