MOSCOW, December 16. /TASS/. Russia’s further action to be taken in the wake of the European Court of Human Rights’ ruling in the Yukos case ordering €1.866 billion should be paid in compensations to former Yukos shareholders will be based on Russia’s sovereign interests, Russia’s Justice Ministry said after the ECHR ruling took effect.
“All further action by the Justice Ministry of Russia in connection with the pronounced ruling will be taken proceeding from the need for ensuring the sovereign interests of the Russian Federation and rely on the norms of the existing national legislation, including the Constitution of the Russian Federation, which enjoys paramount legal authority in the territory of Russia,” the Justice Ministry, which represents Russia’s in interests in the ECHR, said.
On July 31 the ECHR awarded more than €1.866 billion in compensation to former shareholders of the Yukos company on the basis of their complaint against Russia, considered back in 2011. The ECHR said it had identified violations of Article 6 (right to fair trial) of the European Convention of Human rights, committed when Russian courts in 2000 considered a number of issues of Yukos taxation, because the company did not have enough time to prepare arguments in its defense.
On December, 15 a panel of five ECHR judges refused to hand over the issue of awarding a material compensation to former YUKOS shareholders to Grand Chamber for revision. The ECHR ruling in the Yukos vs Russia case of July 31 took effect.