Russian Finance Ministry says Hague Court decision on Yukos case fair

Russia’s Finance Minister considers the decision announced by The Hague District Court on Wednesday to quash final arbitration awards to Yukos shareholders to be fair, the Minister Anton Siluanov said.

"Today’s decision of The Hague District Court on reversal of the arbitration court decision regarding Yukos case first of all means lack of grounds for arrests of the Russian property abroad, which have repeatedly been made recently. This is a fair decision, we never doubted it will follow," Siluanov said.

The Hague District Court ruled earlier on Wednesday that Russia is not obliged to pay $50 billion in compensation to former Yukos shareholders. The court found void six arbitration resolutions (three intermediate and three final ones) made by the Permanent Court of Arbitration in The Hague.

The Hague Arbitration Tribunal in July 2014 passed rulings that Russia should pay a total of $50 bln to companies affiliated with former Yukos shareholders. It was reported in February 2015 that Russia had appealed to the District Court of The Hague against the arbitration rulings.

Yukos was accused of tax crimes and declared bankrupt by a Russian court ruling in 2006 while its assets were sold at auctions during the liquidation procedure.
  [tass.ru]
 20/4/16
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