Russia appeals against Yukos ex-shareholders' ruling in The Hague court - Feb. 07, 2015

Russia appeals against Yukos ex-shareholders’ ruling in The Hague court

Published Feb. 7, 2015 at 10:06 am

Tim Osborne, the CEO of GML Limited (formerly a shareholder in oil giant Yukos) speaks with journalists following a press conference in central London, England, on July 28, 2014. Russia has been ordered by an arbitration court in The Hague to pay shareholders of Yukos a record $50 billion in compensation over its seizure of the one-time oil giant, lawyers for the main claimant said on July 28, 2014. AFP PHOTO/Leon Neal

Photo by AFP

Moscow - On Jan. 28 Russia filed three petitions with the District Court of The Hague, asking to overturn the rulings issued by an international arbitration in three parallels inquiries initiated by former majority stakeholders of the oil company Yukos, the Russian Finance Ministry said.

“The petitions were duly handed over to former Yukos majority shareholders on Nov. 10, 2014, which served as a ground for launching the court proceedings over cancellation of all three arbitration rulings,” the ministry said.