Russian historical epic Viking to be released in Italy, UKSociety & Culture March 30, 2:11
Putin visits ice cave during Arctic tourSociety & Culture March 30, 0:02
West’s reaction to Russian protests part of long-planned campaign - diplomatRussian Politics & Diplomacy March 29, 23:56
Putin orders Defense Ministry and FSB to ensure protection of Russia’s interests in ArcticMilitary & Defense March 29, 21:46
Kiev aware of few chances to win in debt lawsuit case — envoyBusiness & Economy March 29, 20:52
Russian top diplomat dismisses claims about human rights violations in Crimea as liesRussian Politics & Diplomacy March 29, 20:23
Moscow suspects Jabhat al-Nusra could be used to topple AssadRussian Politics & Diplomacy March 29, 19:58
Lavrov reiterates there are no facts substantiating Iran’s links to terroristsRussian Politics & Diplomacy March 29, 19:40
Russia to upgrade helicopter protection system based on Syrian experienceMilitary & Defense March 29, 19:00
MOSCOW, April 20. /TASS/. The Menatep Group Limited, which represents the interests of former Yukos shareholders, has practically no chances of appealing Wednesday’s ruling by a district court in the Hague to the effect Russia is not obliged to pay $50 billion in compensation for the company’s former shareholders, the general director of the International Center for Legal Protection, Andrey Kondakov, has said.
"Appealing the decision will be far harder now," said Kondakov, who represents Russia’s interests in court. "Should any arguments involving the Energy Charter treaty be used, our policy has been very simple and well-reasoned. Russia signed the Energy Charter treaty, but it did not ratify it. Consequently, the treaty’s provisions were applied on the temporary basis and only on the condition they did not contradict Russian legislation."
Kondakov recalled that the international arbitration article was in conflict with Russia’s applicable legislation. "It is very hard to realize how on the basis of the Energy Charter treaty it might be possible to call in question the Hague court’s decision," Kondakov said.
In 2014 the Permanent Court of Arbitration in the Hague obliged Russia to pay nearly $50 billion to companies affiliated with former Yukos shareholders. The tribunal then ruled 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.
Former Yukos shareholders tried to use Russian assets for the sake of enforcing the arbitration court’s decisions. Since June 2015 there have been repeated media reports Yukos shareholders were pressing for the arrest of Russian accounts and the accounts of Russian government organizations in different European countries.
A district court in the Hague declared the arbitration tribunal’s decisions void and canceled the demand Russia should pay the $50 billion compensation. The Russian Justice Ministry said the court’s decision did not lift the arrests from Russian properties and accounts abroad, but it certainly created fundamental reasons to demand the lifting of enforcement measures.
GML representatives said they would protest the court’s verdict.