Ukrainian court allows nationalization of Russia’s Transneft pipe

MOSCOW, November 26. /TASS/. A Commercial Court of Appeals of
Ukraine’s Rivne Region has ruled the nationalization of a 1.5 kilometer
transit oil products pipeline, previously owned by Russian oil pipeline
monopoly Transneft, was legitimate, the country’s General Prosecutor’s
Office said in a statement Wednesday.

The pipeline runs across western Ukraine to Hungary.



In May, a first-instance court of the Rivne Region ruled that Russian
oil pipeline monopoly Transneft is the owner of the pipeline, but the
court of appeals canceled the ruling saying the nationalization was
legitimate.

Transneft will challenge the decision in the Supreme Economic Court
of Ukraine, Igor Dyomin, company’s official representative, said, adding
that the decision will lead to lower transit as it excludes the legal
basis for investments, and “the pipeline will become a pile of iron."