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International tribunal orders $5 bln to be paid to Yukos Capital, says Yukos Foundation

The Tribunal found that Russia illegally expropriated Yukos Capital’s loans to its former parent company Yukos Oil and denied it justice in the Russian courts
Permanent Court of Arbitration in The Hague Ankor Light/Shutterstock/FOTODOM
Permanent Court of Arbitration in The Hague
© Ankor Light/Shutterstock/FOTODOM

THE HAGUE, July 29. /TASS/. The international tribunal, constituted under the Energy Charter Treaty and administered by the Permanent Court of Arbitration in The Hague, Netherlands, has ordered $5 bln to be paid to Yukos Capital, according to the statement published by the Yukos Foundation.

"On Friday, 23 July 2021, the Court issued the Tribunal’s Final Award ordering the Russian Federation to pay damages to Yukos Capital of approximately $5 billion in principal and interest, together with legal fees and costs," the document said. "The Tribunal found that Russia illegally expropriated Yukos Capital’s loans to its former parent company Yukos Oil and denied it justice in the Russian courts," according to the document.

The process was initiated in 2013, according to the information posted on the website of the United Nations Conference on Trade and Development. Yukos Capital pursued a $13 bln payment from Russia through it. The list of the Permanent Court of Arbitration in The Hague of cases, on which the parties have agreed to provide information to the public, does not contain this lawsuit.