On January 31, the Svea Court of Appeal (Stockholm) rejected the application of three Cypriot companies to annul the arbitration award in the Ukrnafta case of February 4, 2021, which rejected their original claim from 2015 to demand compensation from the state in the amount of more than $6 billion with interest.

"The court's most important decision in favor of Ukraine. The court refused to consider the claims of Kolomoisky's companies in the amount of about $6 billion," Deputy Minister of Justice Inna Bohatykh commented on this decision on Facebook.

According to her, three-week hearings were held in November 2024, with the Ministry of Justice and legal advisers representing Ukraine's interests. In a press release, the Ministry recalled that Littop Enterprises Limited, Bordo Management Limited and Bridgemont Ventures Limited (LBB), which collectively owned 40.1009% of shares in PJSC Ukrnafta, initiated arbitration proceedings against Ukraine in 2015.

"Following the consideration of LBB's claims, the arbitration tribunal agreed with Ukraine's position that the tribunal lacks jurisdiction to consider this dispute, which was also confirmed by the Svea Court of Appeal," Deputy Prime Minister for European and Euro-Atlantic Integration - Minister of Justice Olha Stefanishyna also noted.

As stated in the press release, by the court's decision, LBB companies are obliged to reimburse Ukraine $18.93 million in arbitration costs with interest from February 4, 2021, $2.67 million in jurisdictional costs with interest from January 31, 2025, and $0.55 million in court costs with interest from January 31, 2025.