16:04 22-11-2014
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Yukos shareholders awarded about $50 billion in court ruling

Bishkek (AKIpress) - a4s_YUKOS072914_13592247_8col An international tribunal in The Hague, Netherlands, has awarded the shareholders of the now-defunct Yukos oil company about $50 billion in ruling on claims that the Russian government illegally seized the company from one of the country's most powerful oligarchs, New York Times said. 

"We are thrilled with this decision, although we know it is not the end of the road," said Tim Osborne, director of GML, the holding company created by Yukos founder Mikhail Khodorkovsky.

The verdict Monday by a three-judge arbitration panel is an important development in a saga that began in 2003 when Russian authorities arrested Khodorkovsky, Russia's richest man at the time, and began breaking up and selling his main asset, Yukos Oil.

Khodorkovsky, who has always contended that the charges of embezzlement and tax fraud brought against him were baseless and politically motivated, was pardoned by President Vladimir Putin last year, after having spent about 10 years in jail.

The ruling concerned a case brought in 2005 in The Hague by former majority shareholders of Yukos under the provisions of the 1994 Energy Charter Treaty, which sets rules for cross-border energy transactions. Russia signed the treaty but never ratified it.

It is unlikely Khodorkovsky will benefit financially from the verdict, as he says he handed over his stake to a partner.


Twitterfacebookprint
12:11 29.07.2014
LATEST NEWS
12:00 Medvedev offers Turkmenistan to supply meat, agricultural products to Russia within western import restrictions11:52 Deputy Interior Minister, UNODC consider cooperation ties11:38 U.S., Turkey to continue providing support to Syrian 'moderate opposition'11:34 Ukraine considers joining NATO as priority11:31 Russian Government approves Armenia’s accession to EEU11:26 Zhanar Dugalova of Kazakhstan wins Turkvision Song Contest11:21 Uzbekistan takes part in festival of wines and spirits in China11:13 Presidents of Uzbekistan, Switzerland hold talks in Tashkent11:04 Minister of Sport and Youth Affairs of Georgia on visit in Uzbekistan10:56 Tajik Foreign Minister, Pakistani Water Minister vote for stepping up bilateral ties10:50 Nawaz Sharif calls for stronger economic partnership with Tajikistan10:43 Tajik Foreign Minister holds talks with Prime Minister of Pakistan10:34 New U.S. Ambassador to Kazakhstan appointed10:27 Kazakhstan's Nazarbayev, Russia's Putin discuss accession of Kyrgyzstan to EEU10:17 Swiss companies interested in investing in economy of Kazakhstan – Didier Burkhalter10:08 Foreign Minister, Indian Ambassador discuss development of bilateral ties10:00 Existing potential of bilateral relations between Kyrgyzstan, France should be expanded – French Ambassador09:46 Exim Bank of China becomes largest foreign creditor of Kyrgyzstan – Audit Chamber09:34 Foreign Ministries of Kyrgyzstan, Turkey hold another round of consultations09:26 Kyrgyzhydromet warns of day frosts to -15°C
Astana
-6° C
Ashgabat
+13° C
Bishkek
+2° C
Dushanbe
+10° C
Tashkent
+9° C
exchange rates
 
71.75
57.59
9.40
1.26
225.38
180.87
29.53
3.95
6.31
5.08
0.83
0.11
3042.15
2388.25
390.42
56.91
3.55
2.85
0.47
0.06

© AKIpress News Agency - 2001-2014
Use of the AKIpress.com materials must be accompanied by a hyperlink to www.akipress.com
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75