Russia obliged to pay off USD 50 billion to Yukos shareholders

The European Court of Human Rights obliged Russian authorities to pay off USD 50 billion to former Yukos shareholders on July 28, the Russian business daily Kommersant wrote.

“The court actually recognized that the oil company expropriated and awarded the company Group Menatep Limited that represents interests of the former Yukos shareholders with a record compensation of USD 50 billion,” according to the paper.

Russia was found guilty of violating the Energy Charter as a result of de facto expropriation of Yukos.

The plaintiffs were former shareholders of Yukos – Vladimir Dubov, Leonid Nevzlin and others. Only Mikhail Khodorkovsky, who spent 10 years in jail after being convicted of fraud and tax evasion, and who was pardoned in December last year, abstained, the Russian media reported.

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