Opinion: Ukraine might lose “Venko” proceedings

Our Ukraine deputy Ksenya Lyapina told IMC commenting on the Vanco Prykerchenska Ltd appeal to the Stockholm arbitration tribunal against Ukraine.

“By means of long negotiations and postponing of the agreement, the previous government forced the investor to include its sponsors into the company. Now we have opponent government, and it is obvious that Tymoshenko does not want to give financial control over such important field to her opponents,” she underlined.

“Chief financers of Vanco Prykerchenska Ltd are Ukrainians. On one hand I understand the government, which does not want to deal with such group. But on the other hand, such actions discredit the name of the international investor Vanko, as nobody really specify against who the war has been declared,” Lyapina added.

In response to the question how the process may influence the investment climate of Ukraine, the deputy said: “Investors understand that Ukraine never has stable political situation. Big companies avoid us, but middle business is involved as they have less dependence on the politics. Despite all this Ukraine is an attractive country and investments will come and grow.”

In response to the question whether the government might reconsider its position in connection with the latest actions, Ksenya Lyapina doubted such turn of events.

“The Cabinet knew that the company might appeal to the international court and assumed that a lot of time would have passed while considering the case. I doubt that the government would change its juridical position,” she summed up.