• Latest News

    March 24, 2016

    Yukos Co-owners Seeking $50 Billion from Russia Accused of Fraud

    Mikhail Khodorkovsky

    March 24, 2016


    Translated by Kristina Kharlova

    Yukos co-owners trying sue Russia for $50 billion received their shares illegally - according to the evidence showed by Russian lawyers. As it turned out, in the course of further investigation satisfactory evidence of fraud was obtained, by which the ex-co-owners of the oil corporation got their shares.

    "Thus, foreign legal entities, backed by former top executives of the oil company, had no legal grounds for claims on Russia of $50 billion. There is a possibility that evidence obtained by investigators will serve as a basis for new charges against Mikhail Khodorkovsky and other former Yukos co-owners and a new trial," - says

    Business media already reported that Russian Federation has submitted to the lawyers of Yukos ex-shareholders the primary version of the register of shareholders, which was confiscated by investigators in 2003 from "M-Register" company.

    "Its analysis proves that the plaintiffs, who sued Russia for $50 billion in Hague, received Yukos shares illegally and concealed the Russian nationality of investors from the court" - assured the lawyers of the Russian Federation.

    It appears that plaintiffs simply concealed that they were the "front companies owned by Russian citizens" because the Hague court would not have assumed its jurisdiction to consider the dispute in the framework of the international Energy Charter Treaty, says the Russian defense.

    Note that in 2014 international court in Hague awarded the former shareholders of Yukos compensation of $50 billion Naturally, Russia refused to pay and Yukos shareholders attempted to forcibly recover property and money of Russia in Belgium, France, Germany, UK, USA.

    The court of appeals in Stockholm annulled the decision of Stockholm arbitration court, which was rendered in favor of four Spanish investors of Yukos, demanding compensation from Russia for expropriation of its assets. This decision can be a tremendous help to Russia in contesting compensation of $50 billion in Hague.

    On January 18 the court of appeals ruled that "the arbitral tribunal doesn't have the authority to make such decisions."

    "The Hague court awarded Khodorkovsky and Co $50 billion, guided by the decision made in Stockholm," - writes Viktor Loginov. "The decision in Stockholm is recognized as incorrect. Hague ruling, respectively, is also annulled," - he adds.

         Follow us on Facebook!                                                  

           Follow us on Twitter!

    • Blogger Comments
    • Facebook Comments


    Post a Comment

    Item Reviewed: Yukos Co-owners Seeking $50 Billion from Russia Accused of Fraud Rating: 5 Reviewed By: Kristina Kharlova
    Scroll to Top