Yukos: Russia condemned on appeal to pay 50 billion to ex-shareholders
The headquarters of the Yukos group. Until July 2004, Yukos was one of the largest private oil companies in the world, controlled by the Russian oligarch Mikhail Khodorkovsky. Oleg Nikishin / Getty Images
Text by: RFI Follow
The Court of Appeal of The Hague condemned in appeal, Tuesday, February 18, Russia to pay 50 billion dollars of compensation to the ex-shareholders of Yukos, the oil giant today dismantled. Russia immediately reacted by contesting this judgment.
More than fifteen years after the facts, the Court of Appeal of The Hague condemns Russia to settle a compensation of 50 billion dollars to the ex-shareholders of Yukos, a giant of the oil tanker today dismantled. " The Hague Court of Appeal decided today that a previous judgment in favor of the Russian Federation was incorrect ", she said in a statement, the initial decision of the CPA " is again in force "
For its part, Russia immediately announced that it was contesting the judgment and that it would appeal. The court " ignored the fact that the former Yukos shareholders were not all bona fide shareholders ," said the Russian Justice Ministry.
A sprawling affair over 15 years old
The first judgment was rendered in 2014 by the Permanent Court of Arbitration (CPA), following the accusation of the ex-shareholders. The latter believed that the dismantling of Yukos had been orchestrated by Russia for political reasons. At that time, the CPA had ordered Russia to pay the famous $ 50 billion.
However, this judgment was quashed in 2016 by a Dutch court which found that the CAP had no jurisdiction to " grant this compensation ". It is this second judgment which was finally quashed on Tuesday 18 February and which makes the fine of 50 billion dollars again topical.
( with AFP )
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