Hague court orders Russia to pay $50 billion

​Hague court orders Russia to pay $50 billion

Dutch appeals court has reinstated order for Russia to pay $50 billion compensation award to Yukos shareholders, said Andrey Kondakov, head of the International Center for Legal Protection, who represents Russia's interests in this case.

Following the decision, the Ministry of Justice noted that Russia would continue to defend its legitimate interests in this process.

In July 2014, the arbitration court in the Hague unanimously granted the claim of former Yukos shareholders and ordered Russia to pay them $50 billion. Moscow appealed the decision. In April 2016, the district court in the Hague annulled the verdict, explaining that the case was not within the competence of Hague arbitration.

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