Court orders Russia to pay billions in damages to Yukos shareholders
AMSTERDAM — An international arbitration panel in the Netherlands on Monday ordered Moscow to pay $51.57bn in damages to shareholders in the defunct oil giant Yukos, saying officials under President Vladimir Putin had manipulated the legal system to bankrupt the company.The Permanent Court of Arbitration in The Hague issued rulings in three separate cases that had sought a total of more than $100bn from Russia for expropriating the assets of Yukos, formerly controlled by Mikhail Khodorkovsky, once Russia’s richest man.The decision, which followed nearly a decade of hearings, comes at a time of strained relations between Moscow and the Netherlands over the downing of a Malaysian airliner carrying 298 passengers and crew, including 194 Dutch citizens."Russian courts bent to the will of Russian executive authorities to bankrupt Yukos, assign its assets to a state-controlled company, and incarcerate a man who gave signs of becoming a political competitor," the court said.A panel of judg...
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