Court awards $1.3 billion to Ukrainian bank

MOSCOW (AP) — Ukraine’s biggest state-run bank says an arbitration court in Paris has ruled that Russia must pay $1.3 billion in damages for property seized in the annexation of Crimea.

The press service of Oshchadbank said Monday the court ruled in the bank’s favor, and the bank will now take “all possible measures” to get the money back from Russia.

That could include seizing Russian assets around the world, the bank said.

The announcement came amid new tensions between the neighbors over Ukrainian naval ships seized by Russia near Crimea.

Bank official Andriy Pyshnoho encouraged other Ukrainian companies to seek international arbitration “to restore justice” over property seized in Crimea.

Russia did not immediately respond to the ruling.