Hague Court of Appeal claims Russia should pay over $50 bln to ex-Yukos shareholders

Hague Court of Appeal claims Russia should pay over $50 bln to ex-Yukos shareholders
  • Clock-gray 14:22
  • calendar-gray 18 February 2020

The Hague Court of Appeal overturned a previous decision of the district court and announced that Russia is obliged to pay more than $50 bln to former shareholders of Yukos. This is according to the documents published on the court’s website on Tuesday, APA reports citing TASS.

"In 2014, international arbitration ruled that Russia should pay billions of dollars in compensation for damage to former Yukos shareholders. Russia turned to the District court of the Hague and demanded to revoke that decision and the court made the decision in favor of the Russian party. However, the Hague Court of Appeal ruled that the previous verdict was erroneous. This means that the decision of the international arbitration will enter into force again,

The court added that the Russian Federation still has the opportunity to appeal against the decision to the Supreme Court of the Netherlands.

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