Court overturns Russia’s $50bn Yukos shareholder payout

The Hague's District Court decided on 20 April 2016 to overturn an order that Russia pay $50bn (£29.5bn) to former shareholders of an oil company that was forcibly broken up in 2007.

The Hague's Permanent Court of Arbitration (PCA) ruled in 2014 that Russian officials had manipulated the legal system to bankrupt Yukos, and jail its boss Mikhail Khodorkovsky. However, The Hague District Court said the PCA had no jurisdiction in the case. In its argument, the court stated Russia had never ratified the energy treaty under which the PCA had based its case.

The former shareholders behind the suit vowed to appeal against the decision.

• Primary Source

ESO: Background information: Russia overrules the European Court of Human Rights http://www.europeansources.info/record/russia-overrules-the-european-court-of-human-rights/

ESO: Background information: France, Belgium seize Russian assets to compensate Yukos shareholders http://www.europeansources.info/record/france-belgium-seize-russian-assets-to-compensate-yukos-shareholders/

EUObserver, 20.04.16: Dutch ruling on Yukos was political, Khodorkovsky says https://euobserver.com/foreign/133155

The New York Times, 20.04.16: Dutch Court Overturns $50 Billion Ruling Against Russia in Yukos Case http://www.nytimes.com/2016/04/21/business/international/yukos-russia-50-billion-ruling.html

Sputnik International, 20.04.16: Hague Court Disallows Ruling for Russia to Pay $50Bln to Yukos Stakeholders http://sptnkne.ws/bdZV

TASS, 20.04.16: Appealing Hague court ruling in Yukos case practically impossible — Russian lawyer http://tass.ru/en/politics/871336

TIME, 20.04.16: Why a Win in a Dutch Court Is Making Vladimir Putin So Happy http://time.com/4301475/russia-appeal-case-yukos-the-hague/

Foreign Policy, 20.04.16: Dutch Treat: Russia Dodges a Bullet in the $50 Billion Yukos Case — For Now http://foreignpolicy.com/2016/04/20/dutch-treat-russia-dodges-a-bullet-in-the-50-billion-yukos-case-for-now/

The Moscow Times, 20.04.16: Dutch Court Strikes Down $50Bln Yukos Arbitration Award http://www.themoscowtimes.com/business/article/dutch-court-strikes-down-50bln-yukos-arbitration-award/566743.html

The Moscow Times, 20.04.16: Russia Wins $50 Billion Yukos Battle, But War's Not Over http://www.themoscowtimes.com/business/article/russia-wins-50-billion-yukos-battle-but-wars-not-over/566824.html

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