Sands: the Russian Federation takes measures to protect his interests in the Yukos case

Sands: the Russian Federation takes measures to protect his interests in the Yukos case


In July 2014 the arbitral Tribunal in the Hague has obliged Russia to pay former Yukos shareholders $ 50 billion. As a result, in France and Belgium was seized property, which the authorities of these countries consider Russian.

MOSCOW, 22 Dec. Russia is taking legal action to protect its interests in the Yukos case, said the President’s press Secretary Dmitry Peskov.

“Of course, shall we say, legal action is aimed at protecting the interests of the Russian Federation, is underway,” Peskov said.

In July 2014 the court of arbitration in the Hague unanimously upheld the claim of former shareholders of Yukos and ordered Russia to pay 50 billion dollars. The Russian Federation appealed against this judgment, however, the former shareholders of the company appealed to the courts of several countries demanding the seizure of property.

In June in France and Belgium was seized property, which the authorities of these countries consider Russian, pursuant to the decision of the arbitration court in the Hague on the claim of former Yukos shareholders. Representatives of the Russian authorities, in particular, the Minister of economic development Alexei Ulyukayev and Russian presidential aide Andrei Belousov said that Russia will challenge these decisions.

In particular, the speaker called for the arrest of Russian assets abroad is unlawful. The Russian presidential aide Belousov said, referring to the implementation of the decisions of the Hague court, there was admitted a number of legal inaccuracies, and the Russian Federation considers the decision of the Hague arbitration “quite controversial”. He also said that lawyers of international level work in order to protect Russian interests.

In early December the Minister of justice Alexander Konovalov said that the appeals process in national courts the decisions of the Hague arbitration on the Yukos will be long. According to him, Russia appealed the decision in 7-8 countries. He noted that the Russian side has counter-arguments to present them in courts.