On February 18, 2020, the Hague Court of Appeal (Netherlands) ordered Russia to pay $ 50 billion to former Yukos shareholders. The court upheld the complaint of the former shareholders against the decision of the Hague District Court, which overturned the decision of the International Arbitration (Arbitration Court) in The Hague. Now the Russian side is going to challenge the decision of the Hague Court of Appeal in the Supreme Court of the Netherlands. This is stated on the official website of the Ministry of Justice of Russia.
It should be noted that the former shareholders appealed to the International Arbitration (Arbitration Court) in The Hague in 2005. The said arbitration ruled that Russia should pay $ 50 billion to the former shareholders of Yukos, as the company was attacked in full for bankruptcy, seizing assets and removing Mikhail Khodorkovsky from political arenas of Russia. After that, Russia appealed the decision to the Hague District Court, after which the former shareholders appealed to The Hague Court of Appeal, which quashed the decision of the Hague District Court.
The Russian Justice Ministry believes that the Hague Court of Appeal has ignored the fact that the former shareholders of Yukos "were not bona fide investors." The ministry is confident that the control over the assets they obtained through a number of illegal actions, including through collusion and bribing officials. Moreover, the decision of the Hague Court of Appeal does not correspond to the position of the ECHR, which had previously rejected all charges of “political motivation” and “repressive nature” against Russia. Moreover, the Kremlin has not yet commented on this information.
This is new information, I don’t own it yet, so I can’t comment on it yet
- Press Secretary of the President of Russia Dmitry Peskov told reporters.
At the same time, some lawyers suggest that in the near future we should expect another series of arrests of Russian assets and property in other countries.