Ex-Yukos Shareholders Withdraw Action Against Russia in India

© Sputnik / Vladimir Vyatkin / Go to the photo bankThe Yukos office building. (File)
The Yukos office building. (File) - Sputnik International
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Yukos former shareholders have abandoned their claim to arrest Russian state assets in India.

NEW DELHI (Sputnik) — Former shareholders of defunct Yukos oil producer have abandoned their claim to arrest Russian state assets in India, lawyers representing Russia in Yukos assets litigation in an Indian court confirmed Thursday.

"Former Yukos shareholders withdrew their action on arrest of Russian assets in $50-billion compensation, awarded by the Arbitration Court in the Hague in July 2014. We don't have an official notice from the court yet, but one of our lawyers attended the court session, and informed us", Andrei Kondakov, director general of the International Center for Legal Protection.

The withdrawal was made after a Thursday session of the High Court of Delhi, where three cases related to lawsuits over Yukos assets, filed by Group Menatep Limited (GML) — Yukos Universal Limited, Veteran Petroleum и Hulley Enterprises Limited, were reviewed.

 

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