The Russian government is to sue Swiss trading firm Noga for 1.6 million U.S. dollars over the seizure of Russian assets in France, news agencies reported Wednesday, citing the Finance Ministry.
France froze the accounts of several Russian organizations, including the Central Bank, RIA Novosti news agency, the Federal Space Agency (Roskosmos) and the CSKB-Progress enterprise in January, in response to a Noga lawsuit claiming over 75 million U.S. dollars in debt repayment for oil deals with the Russian government in the early 1990s.
All the frozen funds have been freed according to the verdict of French courts, but the Russian government filed a compensation claim Tuesday, RIA Novosti reported.
Though assets of the Russian Federation were not seized, Noga's actions inflicted damage on the prestige and economic interests of Russia, the Itar-Tass news agency said.
"The company is now only trying to bring trouble to the Russian government, trying in vain to get undeserved payment," a Finance Ministry statement said.
Source:Xinhua
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