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January 24, 2016 13:46


Russia has achieved decisive success in appealing the arrest of its property at the suit of YUKOS shareholders. This was said by Minister of Justice Alexander Konovalov, RIA Novosti reports on Sunday, January 24.

"There are litigation proceedings and we already have some progress, which is still too early to talk about. The most important, in general, we have managed to bring the situation into the legal field, which is important," - the Head of the Ministry of Justice said. He added that any new cases of arrest of Russian property abroad has not fixed.

In December Konovalov said that Moscow has appealed the decision of the arrest of his assets in seven or eight countries. During the same month it was reported that the Hague District Court has appointed the consideration of Russia’s complaint to collect $ 50 billion in favor of the former shareholders of Yukos for February 9. In the middle of June the courts in Belgium and France seized a number of Russian assets. This was done in the framework of implementation of the decision on the claims of three companies (Hulley Enterprises, Yukos Universal Limited and Veteran Petroleum Ltd), representing the interests of the former owners of YUKOS.

Subsequently the part of the accounts in Belgium was unlocked, but Moscow has officially protested and announced its intention to appeal against the arrest of their property in court. In July 2014 the Court of Arbitration in the Hague admitted that Russia had violated the Energy Charter and in fact confiscated the YUKOS assets. It complied with the suit of the former shareholders of the oil company and compelled Moscow to pay them $ 50 billion as a compensation of damage.


Author: Anna Dorozhkina

Tags: Yukos     

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