MOSCOW (Sputnik) — Russia will defend its interests in the situation with seizure of Russia's assets abroad in connection with the lawsuit filed by former Yukos shareholders, Russian President Vladimir Putin said on Saturday.
"There will be a reaction, we will defend our interests. As for this case, our position is clear. In these issues, the Hague Tribunal can only apply its authority to those countries which signed and ratified the European Energy Charter. Russia has not ratified it, that is why we do not recognize the jurisdiction of this court," Putin said during a meeting with heads of leading international news agencies.
Belgium and France have begun seizing Russian state-owned property in connection to a lawsuit by former Yukos shareholders, who claimed that Russian authorities had illegally forced the company out of business in order to enable Rosneft to obtain its assets at knockdown prices and become the country’s largest oil producer.
In July 2014, the court in the Hague ruled to award former Yukos co-owners a total of $50 billion in compensation, the largest arbitration award in history.
