The court in the Hague ordered Russia to pay 50 billion in Yukos case

Photo: depositphotos/AndreyPopov

the court of Appeal of the Hague ordered Russia to pay 50 billion dollars on the suit of the former shareholders of Yukos. It is reported RIA Novosti with reference to the head of the International centre for the legal protection of Andrey Kondakov.

“Overturned the district court’s decision,” said Kondakov.

Thus, the district court’s decision cleared code obligations for the payment of $ 50 billion to former Yukos shareholders, is cancelled. The Kremlin has not commented on the court’s decision.

After the decision of the Ministry noted that Russia intends to continue to defend its legitimate interests in the process. Russia can appeal the decision to the Supreme court of the Netherlands.

the Ministry stressed that Moscow still considers the former shareholders of Yukos bona fide investors, as they got control over assets, including through bribes.

In 2014, the arbitration court in the Hague upheld the claim of the former shareholders of Yukos and ordered Russia to pay 50 billion dollars. Moscow appealed this decision, however, the former shareholders filed lawsuits in the courts of several countries to arrest the assets of Russian companies.

In April 2016, the Hague regional court overturned the decision, explaining that it is not in the competence of the Hague Tribunal.

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