The Supreme Court in the Netherlands overturns compensation to Yukos of $ 50 billion

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The Supreme Court in the Netherlands overturns compensation to Yukos of $ 50 billion
The Supreme Court in the Netherlands overturns compensation to Yukos of $ 50 billion
5 November 2021, 16:19In the world
The Supreme Court in the Netherlands overturned the verdict issued earlier by the Hague Court of Appeal to recover from Russia over $ 50 billion in favor of Yukos shareholders, believing that the court mistakenly ignored the RF argument about fraud on the part of shareholders.

"For procedural reasons, the Hague Court of Appeal erroneously ignored the argument of the Russian Federation that the shareholders allegedly committed fraud in the arbitration procedure and therefore did not issue a decision on the merits. Consequently, the decisions of the Court of Appeal cannot remain in force", - stated in the message of the Supreme Court of the Netherlands.

The court dismissed the rest of the complaints.

We will remind that earlier $ 50 billion was recovered from Russia on claims of former shareholders (including interest, the amount exceeded $ 57 billion).

The Russian Constitutional Court stated that its 2012 ruling should not be interpreted as a document that allows for the referral of disputes to an international court. According to the Constitutional Court, the government can sign international treaties on behalf of Russia, but disputes over them should be considered in Russian courts. Otherwise, it will be seen as a violation of the country's sovereignty.

The Arbitration Tribunal in The Hague ordered Russia to pay shareholders $ 50 billion back in 2014. However, Moscow filed an appeal and the payment process was frozen. Last February, the Hague Court of Appeal overturned the district court's ruling and ordered Russia to pay the Yukos shareholders again.

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