Moscow expressed hope for a reversal of the decision of the Hague arbitration on the Yukos

Moscow. January 28. Russia is counting on the reversal of the decision of the Hague arbitration on the payments $50 billion in claims of former shareholder NK “YUKOS” after the verdict of the appellate court of Sweden in favor of Russia, have informed in a press-service of the Ministry of justice.

“We hope that the court of Appeals decision district Svea, which abolished the second (in addition to the case Rosinvest Co.) the award on claims of former shareholders of OAO “NK “YUKOS” in the Russian Federation, will be considered by the District court in the Hague when addressing the issue about cancellation of decisions of the Hague arbitration on the claims of companies “Hally Enterprises limited”, “Yukos universal limited and Veteran petroleum limited” to the Russian Federation, in which Russia also challenge the competence of arbitration to resolve a dispute”, – said the press-service received on the request.

“In this regard, the Ministry of justice welcomes the decision of the Swedish court of appeal adopted the correct interpretation of the Soviet-Spanish agreement and restore justice in the case”, – stated in a press release.

The Ministry recalled that in accordance with the district court of Appeal of Svea (Sweden) by decision of the claim of the former Spanish shareholders of OAO “NK “YUKOS” should not be considered by the Stockholm arbitration, and an order issued on July 25, 2012 is deemed not enforceable.

“The court determined that the plaintiffs fell under the scope of guarantees under an Agreement between the USSR and the Kingdom of Spain on promotion and mutual protection of investments dated 26 October 1990 (the Agreement)”, – stated in the message.

According to the justice Ministry, in its statement, the plaintiffs offered arbitration to establish the fact of expropriation of property and to determine that they are entitled to in connection with this compensation, while the Treaty provides for arbitration only to determine the amount of compensation, but not to establish the fact of expropriation of property.

“The Russian Federation has consistently adhered to the position on the absence of arbitration the competence to consider the dispute. The decision of the court of appeal entered into force and enforceable,” – said the press service.

However, noted in the Ministry of justice, the plaintiffs have the option to 15 February 2016 to apply to the Supreme court of Sweden, which can accept a case for consideration.

“Further steps by the Russian Federation will depend on the actions of the plaintiffs”, – noted in Department.

They added that Russia’s interests in the courts of Sweden in this case was represented by the law firm “Baker Botts” and “Lindahl”.

Earlier on Thursday the newspaper “Kommersant” informed that the court of appeal, Sweden rejected the appeal of Russia in the case of Spanish investment funds, which were holders of American Depositary receipts for the shares of YUKOS.

According to the publication, the appeal is admitted that the arbitration Institute of the Stockholm chamber of Commerce, in July 2012 who satisfied the claim of the funds and vzyskatel with the Russian Federation $2 million and interest, “was not competent to examine the dispute”.