Yukos case: Russia will appeal the court’s decision, for which it owes $ 57 billion
Russia has filed a cassation appeal with the Supreme Court of the Netherlands, demanding the annulment of the decision of the Hague Court of Appeal, which ordered Russia to pay 57 billion dollars (52 billion euros) at the request of former majority shareholders of Yukos.
This was announced on Friday, May 15, the press service of the Russian Ministry of Justice, reports DW.
Moscow acknowledged that the Court of Appeal’s findings were “illegal and unfounded.” According to the Ministry of Justice of the Russian Federation, the court “ignored numerous facts of violation by the plaintiffs of anti-corruption and” anti-money laundering “regulation.”
Former shareholders of the company, according to the ministry, gained control over it through proven conspiracy, fictitious bidding and bribery of officials responsible for its privatization.
“Moreover, offshore pacifier companies controlled by Russian citizens have not actually paid for Yukos shares and, accordingly, have not made any contribution to the Russian economy,” the statement said.
As explained in the ministry, the amount of payments increased from the initial 50 to 57 billion due to penalties.
We remind you :
In February 2020, the Dutch Court of Appeal overturned a lower court’s decision to cancel a $ 50 billion payment to shareholders of the now-defunct Russian oil giant Yukos.
The shareholders appealed to the International Arbitration in The Hague in 2005. 2007 the court came to the conclusion that in at Yukos in the early 2000s made a massive attack to bring the company into bankruptcy, assets and take her to remove the head of the organization Khodorkovsky policy.
The ruling of the court in the Netherlands from 2017 is similar to the decision of the European Court of Human Rights in Strasbourg, which in 2014 decided to collect from Russia about 2 billion euros in favor of former Yukos shareholders.
Russia’s Constitutional Court has allowed Russia not to comply with the ECtHR’s ruling, ruling that a ruling by the European Court of Human Rights on a complaint by former Yukos shareholders violates the provisions of the Russian Constitution.