Russia ordered to pay $US50bn over oil seizure

By AAP

The Permanent Court of Arbitration (PCA) ruled on July 18 that Russia pay the claimants "in excess of $US50 billion" after finding it had forced Yukos into bankruptcy and sold its assets to state-owned businesses for political purposes, the claimant's lawyer Emmanuel Gaillard said.

The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $US50 billion ($A54. 10 billion) in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd says.

Read more here: Business Spectator

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>