Contents tagged with yukos

  • Claims against Russia in international courts have reached $99 billion

    The amount of claims against the Russian government, brought in foreign arbitration courts, continues to grow by leaps and bounds.

    To date, the total amount of lawsuits is approaching the $100 billion dollar mark, said the Russian Presidential representative, Harry Minh, speaking in the State Duma.

    "Currently, 37 trials are underway in arbitration courts, and as part of these claims, lawsuits totaling $99 billion have been brought against the Russian Federation," Minh said.

    The number of …

  • Yukos shareholders seize Russian vodka brands in Netherlands

    A new phase begins in the legal battle between Russia and the former Russian oil company Yukos

    At the beginning of May, Yukos shareholders seized the rights in the Benelux countries for a series of alcohol brands registered in the Netherlands,which are owned by the Russian state. The claim includes iconic vodka brands Stolichnaya and Moskovskaya, reported the Ducth news agency NRC.

    On February 18, the Hague Court of Appeal reinstated the decision of the lower court, the Hague Arbitration …

  • Hague court orders Russia to pay $50 billion in YUKOS case

    The multi-year lawsuit between the former shareholders of YUKOS and Russia has reached a new level.

    The Hague Court of Appeal has sided with the former owners of what was once the largest Russian oil company, and upheld a ruling by the arbitration court in the Hague, which in 2014 ordered Russia to pay the plaintiffs $50 billion in compensation. A decision by the Hague District Court, which revoked the compensation, has now been annulled.

    On Tuesday, the Hague Court of Appeals satisfied the …

  • Putin’s former teacher becomes billionaire

    Vladimir Litvinenko, the Rector of the St. Petersburg Mining University under whose leadership Vladimir Putin defended his Ph.D. thesis in 1997, has become a dollar billionaire, writes Vedomosti.

    "Litvinenko's declarations reflect only a small portion of his fortune. This year, the rector became a dollar billionaire, having raised his shares in one of the world's largest fertilizer producers, Fosagro, in April to 19.35% of shares. As of last Friday, the value of this package amounted to 59.9 …

  • Court in the Netherlands rules that Russia deliberately brought Yukos to bankruptcy

    A court in the Netherlands has ruled that Russia deliberately brought the oil company “Yukos” to bankruptcy by insisting that it pay large amounts of taxes.

    In 2004-2005, The Moscow Arbitration Court collected a total of more than 300 billion rubles of tax arrears for 2000-2004 from Yukos; in the summer of 2006, the oil company was declared bankrupt.

    As the Court of Appeals of Amsterdam decided, Dutch legislation does not allow for the recognition of the bankruptcy of the company Yukos in 2006 …

  • Roscosmos requires payment of funds frozen by France in the Yukos case

    The Roscosmos State Corporation for Space Activities refuses to supply Soyuz carrier rockets to the French company Arianespace because of non-payment of 300 million euros. These assets have been blocked by a French court in connection with the Yukos case, the French edition of Les Echos wrote on Friday, October 28th.

    "We do not get money from Arianespace for our work. No money, no product. We cannot work for free," Les Echos stated, quoting the press service of Roscosmos. The said amount was …

  • Le Figaro: France has adopted the so-called 'Putin's Amendment'

    Members of the National Assembly have voted for the second “Sapin Law”, which is aimed at modernizing the economic life of France. In addition, members catered to Russia by adopting an amendment which protects the property of foreign states and companies against confiscation.

    According to Fabrice Nodé-Langlois of Le Figaro, this amendment is known as “Putin’s amendment” in France as it is adopted at a time when the property of the Russian Federation and Russian state-owned companies is …

  • Media: Hundreds of lawyers worked 'day and night' on appeals in the Yukos case

    Les Echos newspaper reports that hundreds of legal experts, especially in France, worked day and night last year on the appeal that resulted in the Hague District Court’s ruling to overturn the decision for Russia to pay compensation in the amount of $50 billion to the former shareholders of Yukos Oil Company.

    French journalists Valerie de Sennevil and Yves Burdiyon explained in their article "Billions and threats: Yukos story without an ending" that the Tribunal's decision does not mean the …

  • Russia has taken necessary steps to ensure that mistral carrier payments to France weren't expropriated as part of Yukos case

    The Russian Federation has taken necessary steps to make sure that payments "weren't seized as part of the Yukos case expropriation," a source in the military and diplomatic circles said. Paris met Moscow halfway on this matter.

    Funds amounting to one billion Euros, paid by the Russians in advance for the construction of two Mistral helicopter carriers, were returned to Moscow shortly after the cancellation of the contract as reported on Monday, February 22nd, by the Rambler News Service (RNS), …

  • Yukos shareholders: 1 billion euros in Russian assets were expropriated in France

    Former Yukos shareholders are seeking financial recovery from Russia in the amount of 50 billion dollars in accordance with the decision of the Arbitration Court in The Hague.  This refers to Russian assets seized in France.  The amount of one billion euros is roughly 86 billion rubles.   This information is according to the RBC daily newspaper with reference to Group MENATEP Limited (GML), a holding company representing the former shareholders of Yukos.

    The ventures of the Federal State …