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    Central Asia
     Jul 29, '14


Russia told to pay $50bn in Yukos case
By RFE/RL

A court based in The Hague has ordered Russia to pay about $50 billion to a group of former shareholders of the Yukos oil company.

The Permanent Court of Arbitration ruled on July 28 that Russia violated the 1991 international Energy Charter when it dismantled



Yukos and auctioned off its main assets in 2004.

The court said officials at state-owned Rosneft, which acquired most of Yukos's assets, were working for Russian President Vladimir Putin in destroying Yukos.

The plaintiffs, Group Menatep Limited (GML), had sought damages of $114 billion. The court also ordered Russia to pay $65 million to compensate GML's legal costs. It was one of the largest awards the court has ever made. More ...

See also here.

Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Washington DC 20036. For original article, see here

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