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Former Yukos shareholders appeal against Hague court ruling

August 26, 15:23 UTC+3
1 pages in this article

THE HAGUE, August 26. /TASS/. Former Yukos shareholders have filed an appeal against the ruling of the Hague court, the spokeswoman for the Hague Court of Appeal Linda Boon-van der Drift has told TASS.

"Yukos Universal Limited, Hulley Enterprises Limited and Veteran Petroleum Limited are all parties in this case as well as the Russian Federation. That case I can confirm will be at the Court of Appeal in The Hague. Information on further procedures are not yet known," she said.

The Permanent Court of Arbitration in the Hague in 2014 ruled Russia should pay some $50 billion to companies affiliated with the former Yukos shareholders. It said that Russia’s actions towards Yukos might be interpreted as expropriation of investment and a violation of article 45 of the Energy Charter, which Russia had signed but not ratified. On April 20, 2016 the Hague District Court overturned the arbitration court’s decision and relieved Russia of the obligation to pay the $50-billion compensation.

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