Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

10/24 05:05   Russia political and economic calendar: October 24
 
10/24 05:00   INTERFAX RUSSIA AND CIS BUSINESS AND FINANCIAL NEWS
 
10/23 22:14   Kurdish SDF chief says backs actions of Russian military police, Syrian military - Russian Defense Ministry
 
10/23 22:05   Shoigu, SDF commander discuss progress of Russian-Turkish memorandum fulfillment - Russian Defense Ministry
 
10/23 22:05   SDF chief thanks Russia for Kurds' security, steps to end hostilities
 
10/23 22:01   Russian military police to guarantee safety for border population in northern Syria - Shoigu
 
10/23 21:59   Shoigu tells SDF commander of increase in Russian military police numbers on Syrian-Turkish border
 
10/23 21:55   Russian deputy defense minister, CAR defense minister discuss CAR servicemen's training in Russia
 
10/23 21:50   Russian prosecutors practically stop opening cases involving creation of criminal communities against Russian entrepreneurs - Prosecutor General's Office
 
10/23 21:49   SDF COMMANDER THANKS SHOIGU FOR PROVIDING KURDS' SECURITY AND ENDING HOSTILITIES - RUSSIAN DEFENSE MINISTRY
 




 

Interfax.com  |  Interfax news  |  Hague court to be shown new evidence of Yukos...


News headlines


September 09, 2019 20:32

Hague court to be shown new evidence of Yukos ex-shareholders' illegal operations - Russian rep (Part 2)

MOSCOW. Sept 9 (Interfax) - Russia will file new evidence with The Hague Court of Appeal in late September showing that former Yukos shareholders acted illegally during the privatization of the oil company, according to Andrei Kondakov, head of the International Legal Aid Center which represents the interests of the Russian state.

"On September 23-24 and 30, The Hague of Appeal will hold the final round of hearings on the appeal filed by the former Yukos majority stakeholders against a ruling by the District Court of The Hague," which in April 2016 overturned a ruling by the city's court of arbitration which ordered Russia to pay $50 billion in damages, Kondakov told Interfax on Monday.

"Since then, new evidence has been gathered of the Yukos ex-shareholders' illegal operations relating primarily to this company's privatization, which involved conspiracy and bribing, mass tax evasion, withdrawing its assets abroad, and laundering illegal proceeds," Kondakov said.

The evidence will also list "instances of the former Yukos shareholders abusing international justice mechanisms," including " knowingly submitting false information on arbitrators, methods of gaining control over Yukos assets, and its end beneficiaries, the creation of a foreign network of front companies for this internal dispute between the Russian company and [Russian] tax authorities to be classed as international, the unlawful use of the Energy Charter Treaty mechanisms that are solely applicable for protecting conscientious foreign investors, which the front companies controlled by Yukos oligarchs never were," Kondakov said.

He hopes that the Court of Appeal "will take account of said circumstances and uphold the previous court decision to cancel the arbitration rulings and finally put a full stop to the drawn-out litigation."

The Yukos dispute is "unprecedented" for international investment arbitration, the lawyer said.

In 2005, the subsidiaries, Group Menatep Limited - Hulley Enterprises (Cyprus) and Yukos Universal Ltd. (the Isle of Man), which jointly had a 51% stake in Yukos, filed a claim against Russia with the Hague court, demanding that $28.3 billion in damages be awarded. The total amount of claims against Russia, including the claim lodged by the Yukos pension fund Veteran Petroleum Ltd., was $33.1 billion. The amount claimed increased as time passed.

The Hague Court of Arbitration upheld those companies' claims in July 2014 and compelled Russia to pay $50 billion. Russia filed three appeals to overrule arbitration judgments with the Hague District Court in November 2014. Nevertheless, former Yukos shareholders refused to wait for a decision on the Russian appeal and initiated the enforcement of the ruling by courts of the United States, France, Belgium, Germany, and the United Kingdom in June-August 2015.

The Hague District Court repealed the arbitration rulings on April 20, 2016. According to Kondakov, the Hague District Court upheld Russia's appeal on the basis of one out of six arguments: it believed that the argument sounded convincing and did not waste time on hearing the other five.

Over the following 18 months, all lawsuits filed to seize Russian assets in Germany, India, France, and Belgium were either withdrawn by plaintiffs or thrown out by judges in those countries.

Currently, the enforcement proceedings against Russia initiated by former Yukos shareholders, have been either suspended or terminated.

Kk lm

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Natural Gas Daily
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire
Please enter the digits from picture in the box below:

October 24, 2019
 
05:05
Russia political and economic calendar: October 24
 
05:00
INTERFAX RUSSIA AND CIS BUSINESS AND FINANCIAL NEWS
 
October 23, 2019
 
22:14
Kurdish SDF chief says backs actions of Russian military police, Syrian military - Russian Defense Ministry
 
22:05
Shoigu, SDF commander discuss progress of Russian-Turkish memorandum fulfillment - Russian Defense Ministry
 
22:05
SDF chief thanks Russia for Kurds' security, steps to end hostilities
 
22:01
Russian military police to guarantee safety for border population in northern Syria - Shoigu
 
21:59
Shoigu tells SDF commander of increase in Russian military police numbers on Syrian-Turkish border
 
21:55
Russian deputy defense minister, CAR defense minister discuss CAR servicemen's training in Russia
 
21:50
Russian prosecutors practically stop opening cases involving creation of criminal communities against Russian entrepreneurs - Prosecutor General's Office
 
21:49
SDF COMMANDER THANKS SHOIGU FOR PROVIDING KURDS' SECURITY AND ENDING HOSTILITIES - RUSSIAN DEFENSE MINISTRY
 
21:48
SDF CHIEF SAYS IN TALKS WITH SHOIGU HE BACKS ACTIONS OF RUSSIAN MILITARY POLICE, SYRIAN ARMY - RUSSIAN DEFENSE MINISTRY
 
21:47
CIVILIANS STAYING WITHIN 30 KM AREA ON SYRIAN-TURKISH BORDER DO NOT NEED TO LEAVE THEIR HOMES, RUSSIAN MILITARY POLICE, SYRIAN BORDER GUARDS GUARANTEE THEIR SECURITY - SHOIGU
 
21:47
Georgian security chief favors counterterrorism coordination by regional countries, Russia included
 
21:45
RUSSIAN MILITARY POLICE TO EXPAND PATROL ROUTES ON SYRIAN-TURKISH BORDER IN COMING DAYS - SHOIGU TELLS SDF COMMANDER
 
 more headlines 



Interviews
 

.
Cooperation between OPEC and non-OPEC countries, foremost Russia, has lasted for three years already and in this time the oil market has seen shakeups that have threatened to cause a split within OPEC and jeopardized the fate of the OPEC+ agreement to curb oil production in order to balance the market. OPEC Secretary General Mohammed Barkindo spoke with Interfax on the sidelines of the 16th annual meeting of the Valdai Club in Sochi about how decisions are made and OPECСs position regarding geopolitical events that have hit oil markets.

more
.
.
U.S. Ambassador to Russia John Huntsman, who will leave his post in early October, has given an interview to Interfax in which he speaks about exchanges at the highest level between Moscow and Washington, a possibility of RussiaСs return to G8, as well as his vision of the future of U.S.-Russian relations.

more
.
.
Russian Deputy Foreign Minister Sergei Ryabkov has given an interview to Interfax in which he speaks about the U.S. withdrawal from the Intermediate-range Nuclear Forces Treaty on that is expected on August 2, about Russia‘s response to the U.S. and NATO possible deployment of missiles banned by the treaty, and about whether the Cuban Missile Crisis may repeat itself.

more

 
  
 ©   1991—2019   "Interfax News Agency" JSC. All rights reserved.
Contact information   |   Privacy Policy   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100