KIEV, Aug 26 (Reuters) - Ukraine’s state-owned Oschadbank has filed a legal claim against Russia for more than $1 billion in compensation for losses incurred as a result of Russia’s annexation of the Crimea peninsula, the bank said on Friday.

Already under pressure from an economic crisis in Ukraine, banks with significant assets in Crimea faced substantial writedowns after Russia seized the territory in March 2014 in a move condemned by Ukraine and the West.

Oschadbank, Ukraine’s second-largest lender, said it had filed an arbitration claim with a court in Paris after it warned Russia last July that it would be seeking compensation.

“The total claim includes the cost of the lost assets, the cost of lost business, as well as the interest that will be calculated up until the court reaches a final decision,” it said in a statement.

Russia’s justice, finance and economy ministries did not immediately respond to requests for comment.

Oschadbank and Privatbank, Ukraine’s largest lender, had the most extensive branch networks in Crimea. Privatbank has said it would seek international arbitration to make up for losses on the peninsula and would pursue its case in The Hague.

Prior to the annexation, Ukrainian banks operated more than 1,000 branches in Crimea. (Reporting by Natalia Zinets; writing by Alessandra Prentice; editing by David Clarke)