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Russian Finance Ministry says Hague Court decision on Yukos case fair

April 20, 13:58 UTC+3 MOSCOW
The Hague District Court ruled earlier on Wednesday that Russia is not obliged to pay $50 billion in compensation to former Yukos shareholders
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Russia’s Finance Minister Anton Siluanov

Russia’s Finance Minister Anton Siluanov

© Dmitry Astakhov/Russian Government Press Office/TASS

MOSCOW, April 20. /TASS/. Russia’s Finance Minister Anton Siluanov considers the decision announced by the Hague District Court on Wednesday to quash final arbitration awards to Yukos shareholders to be fair.

"Today’s decision of The Hague District Court on reversal of the arbitration court decision regarding Yukos case first of all means lack of grounds for arrests of the Russian property abroad, which have repeatedly been made recently. This is a fair decision, we never doubted it will follow," Siluanov said.

The Hague District Court ruled earlier on Wednesday that Russia is not obliged to pay $50 billion in compensation to former Yukos shareholders. The court found void six arbitration resolutions (three intermediate and three final ones) made by the Permanent Court of Arbitration in The Hague.

The Hague Arbitration Tribunal in July 2014 passed rulings that Russia should pay a total of $50 bln to companies affiliated with former Yukos shareholders. It was reported in February 2015 that Russia had appealed to the District Court of The Hague against the arbitration rulings.

Yukos was accused of tax crimes and declared bankrupt by a Russian court ruling in 2006 while its assets were sold at auctions during the liquidation procedure.

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