The Hague court overturned the decision to pay Russia $ 50 billion to Yukos shareholders. Reaction of the parties

Фото: Depositphotos

The District Court of The Hague overturned the decision on Russia to pay compensation in the amount of $50 billion in favor of the ex-shareholders of the Yukos Oil Company, a Russian representative in the court told Interfax on Wednesday.

“Our complaint against the arbitration decision in The Hague to pay $50 billion has been fully satisfied,” said Andrei Kondakov, head of the International Legal Defense Center.

According to him, the appellate court found that the jurisdiction of the arbitration did not include consideration of claims of this kind.

“Today’s decision leads to the cancellation of the requirement for Russia to pay multibillion-dollar compensation,” - quoted Kondakova "Interfax".

The reaction of the Kremlin

Kremlin official Dmitry Peskov commented on the decision of the District Court of The Hague in the case of former shareholders of the Yukos oil company. The official urged not to politicize the situation, сообщает "Lenta.ru".

“We intend to continue to consistently protect the interests of Russia within the framework of legal proceedings […]. Russian lawyers presented fairly well-reasoned evidence […] in favor of the fact that we have not ratified this very [Energy] Charter,” he emphasized.

Khodorkovsky reaction

The former head of Yukos, Mikhail Khodorkovsky, responded to the decision of the district court of The Hague.

“The West has decided to ease the pressure. My friends will continue the confrontation. I went and am going to regime change in a different way,” Khodorkovsky wrote on his Twitter.

As reported, the District Court of The Hague considered Russia's complaint against the Arbitration Court's decision to pay $50 billion in compensation to ex-shareholders of the Yukos Oil Company and set April 20 as the date for announcement of the decision.

In case of disagreement with the decision of one of the parties, it can be appealed to two higher authorities - the Court of Appeal and the Supreme Court of the Netherlands.

Как сообщалось, in July 2014, the Arbitration Court in The Hague upheld the claim of former shareholders of the Yukos Oil Company and ordered Russia to pay them $50 billion as compensation for the expropriation of the company. In the same month, the European Court of Human Rights ordered Russia to pay the same plaintiffs compensation of 1,86 billion euros, as well as 300 thousand euros in legal costs.

According to the arbitration ruling, the Russian side launched a full-scale attack on the Yukos oil company and its beneficiaries in the early 2000s with the aim of bankrupting it and seizing its assets, while simultaneously removing the head of the company, Mikhail Khodorkovsky, from the political arena.

In November 2014, Russia filed three petitions with the District Court of The Hague to annul the arbitral awards made by the Hague Arbitration Court on claims of former shareholders of NK Yukos.

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