Dutch Prosecutor General Upholds Ruling On $50Bln Compensation For Ex-Yukos Shareholders

Umer Jamshaid Published April 23, 2021 | 02:00 PM

PARIS (UrduPoint News / Sputnik - 23rd April, 2021) The Dutch prosecutor general upheld the court ruling obligating Russia to pay a compensation amounting to over $50 billion to former Yukos shareholders.

"The 2014 arbitral awards ordering the Russian Federation to pay approximately USD 50 billion in compensation for failing to protect the investments of three major shareholders in Yukos Oil Company can be upheld," a letter sent to the Supreme Court of the Netherlands read.

In its 2014 ruling, the Hague Court of Appeal ruled to award damage to three major shareholders of the now defunct oil firm Yukos. Russia insists it has proof that stakeholders acquired Yukos shares illegally through collusion, fake auctions and paying kickbacks to officials who oversaw the company's privatization in the 1990s.