The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $50 billion in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd said in London on Monday.
The Permanent Court of Arbitration ruled on July 18 that Russia pay the claimants “in excess of $50 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.