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France Transfers Compensation for Mistral Non-Delivery in Secrecy

06.08.2015 12:07

Paris transferred over 1.1 billion euros (1.2 billion dollars) to a Russian bank as compensation for terminating the deal to deliver two Mistral-class helicopter carriers to the Russian Navy "in utmost secrecy," the Kommersant newspaper reported, citing an unnamed source.

According to the daily, the money transfer was conducted in secrecy due to Moscow's concerns over the Yukos case. In 2014, the Permanent Court of Arbitration in The Hague awarded three companies representing former co-owners of the defunct oil giant 50 billion in compensation from the Russian government. As a result some European countries seized Russian state assets.

The source told the newspaper that the compensation for the Mistral non-delivery could also be seized under the PCA ruling.

The 1.1 billion-euro compensation covers the advance payment of 860 million which Moscow transferred to Paris, as well as the dismantling and unloading of Russian equipment from the two warships, dubbed Sevastopol and Vladivostok. After that, the helicopter carriers will be at France's full disposal.