OREANDA-NEWS. The Chinese investment company Beijing Skyrizon Aviation Industry Investment Co. Ltd filed an application with the Permanent Court of Arbitration in The Hague — the International Arbitration Court — with a request to rule on the case of a possible violation by Ukraine of the bilateral investment agreement and demanded compensation in the amount of 4.5 billion dollars for Kiev's allegedly unfair treatment of Chinese investors. This was reported on Monday, November 29, by the Chinese daily Global Times.

The statement claims that Chinese investors «suffered significant losses» «due to five years of unfair treatment» and ongoing harassment in Ukraine. The company has stated that it will use all possible legal weapons to protect its legal rights.

On January 29, Ukrainian President Volodymyr Zelensky signed a decree imposing sanctions on three Chinese citizens and four Chinese companies, including Skyrizon, in order to freeze their assets in Ukraine.

All corporations were investors of the Ukrainian manufacturer of aircraft engines «Motor Sich». The sanctions were imposed against the backdrop of the US government's efforts to block China's acquisition of «Motor Sich». Representatives of Skyrizon at the end of January stated that after the approval of restrictive measures, the company was illegally deprived of it's legal rights as a shareholder of «Motor Sich» and as a result suffered huge economic damage.

In March, the Shevchenko District Court of Kiev seized the property and 100 percent of the shares of the Zaporozhye plant «Motor Sich». The property was planned to be transferred to the management of the National Agency of Ukraine for the Identification, Search and Management of Assets Obtained from Corruption and Other Crimes.

The Security Service of Ukraine conducted two pre-trial investigations against «Motor Sich». One concerned possible «sabotage and subversive activities» in favor of Russia, the second was related to the alleged violation of Ukrainian legislation during the initial privatization of the enterprise, the SBU noted.

The National Security and Defense Council of Ukraine decided to return «Motor Sich» to state ownership, after which the company was nationalized. Chinese shareholders of the Ukrainian company criticized this step.