Russia found new arguments to challenge decision in Yukos case

Russian lawyers will use the recent decisions of courts in Stockholm and Washington to challenge the legitimacy of The Hague's jurisdiction in the Yukos case.

Russia has found new arguments to challenge the decision on the payment of 50 billion dollars to the former shareholders of Yukos, as a result of a lawsuit, reported Vedomosti.

On February 9th, in the District Court of The Hague, Moscow's appeal will question the illegality of the application of the Energy Charter to this case, as well as to the recent decisions of the courts in Stockholm and Washington.

On January 28th, in the Court of Appeal in Sweden, Russia appealed the decision of the Stockholm arbitration in the Yukos case on payment of 2 million dollars to a group of Spanish shareholders of Yukos.

The Russian Ministry of Justice hopes that the court in the Netherlands will take into account the decision of the Swedish Svea District Court.

The second decision, which Russia will use in its appeal, was made by the International Center for Settlement of Investment Disputes in Washington, which refused to recognize its jurisdiction over a dispute between the Government of Guinea and the French company, Gaeta, that was actually governed from Guinea.

In July of 2014, the Arbitration Court of Justice ordered Russia to pay the former shareholders of Yukos compensation that amounted to 50 billion dollars. Also, Russia is obliged to pay around two billion euros as compensation, according to the decision of the European Court of Human Rights. Russia refused to accept this ruling.

  Russia, lawsuits