An arbitral tribunal awarded Ukrainian businessman Ihor Kolomoisky and Aeroport Belbek LLC compensation in a dispute over Sevastopol’s passenger terminal.
The Permanent Court of Arbitration (PCA) announced on 6 October a final award in a claim brought by Ihor Kolomoisky and Aeroport Belbek LLC against the Russian Federation. The tribunal awarded the claimants $11.5 million. The PCA acted as the case secretariat; the amount was also reported by Kommersant and aviation outlet AEX.RU.
The dispute concerns rights to operate Belbek airport’s passenger terminal in Sevastopol for commercial flights. Kolomoisky said he had a contract for the terminal until 2020 and lost expected income after the airport was nationalised in 2014. The claim was filed in January 2015.
Russia joined the arbitration in June 2019 after initially challenging the tribunal’s jurisdiction. Russia also sought to appeal decisions on jurisdiction and liability in Dutch courts. The Netherlands’ Supreme Court dismissed its appeal in December 2024, Kommersant reported.
Kolomoisky has been in custody in Ukraine since September 2023. Ukrainian authorities have accused him of fraud and laundering $13.5 million through banking structures under his control. In Russia, he was convicted in absentia and sentenced to 12 years in a separate oil-theft case. Those criminal cases are distinct from the arbitration over the terminal.