Gloria Holmes
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Shareholders of the Russian oil giant Yukos expected, Friday, November 5, confirmation of compensation of $ 50 billion awarded seven years ago, but the Dutch Supreme Court found their fault.
With our correspondent in BrusselsAnd Pierre Banza
On Friday, the Dutch Supreme Court ruled in favor of Russia, stating that a fraud occurred during the recovery of compensation. So it overturned the conviction of Moscow to pay 50 billion dollars (About 43 billion euros for former shareholders of the oil company Yukos.
Former shareholders accused of orchestrating the breakup of Yukos for political reasons Russia He was initially convicted in 2014 by an international court. Thus, this court decision is a new development in this political-financial issue that has continued since the arrest of the Russian oligarch and enemy of the Kremlin, Mikhail Khodorkovsky in 2003, and then the dissolution of Yukos between 2004 and 2006.
Judicial series
The Permanent Court of Arbitration, an international body based in The Hague, was initially taken over by former Yukos shareholders. I first decided in 2014 to give them $50 billion in compensation.
But two years later, a Dutch court did it cancel compensation Because Russia has never signed the international treaty on which the Permanent Court of Arbitration was founded. A new revival ensued in 2020 when the Dutch Court of Appeal reinstated the 2014 initial indemnity: so that decision was again overturned on Friday 5 November by High Court judges for the question of form.
But the ruling of the Supreme Court of the Netherlands is only a distortion and not a conclusion. Dutch judges decided that the merits of the Yukos case must now be reconsidered.
Laurence Malcom
