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Activities of Former Yukos Management 'Fraudulent' - Envoy

© Sputnik / Vladimir Vyatkin / Go to the mediabankThe Yukos office building. (File)
The Yukos office building. (File) - Sputnik International
Activities of former management of now-defunct Russian energy company Yukos were of "fraudulent" nature, Presidential Envoy to Russia's Constitutional Court Mikhail Krotov said on Thursday.

The Yukos office building. (File) - Sputnik International
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MOSCOW (Sputnik) — Currently, the Constitutional Court is discussing the request of the Russian Justice Ministry about the possibility not to implement the 2014 decision of the European Court of Human Rights (ECHR), which implied that Russia must pay about $2 billion to the shareholders of Yukos.

"Russia's arguments saying that the compensation sum [to Yukos shareholders] should be decreased due to the fraudulent behavior of the company's management was not popular with the ECHR," Krotov said.

Earlier during the Constitutional Court's session, Russia's Representative at the ECHR Georgy Matyushkin added that the European court did not deny the fact of tax evasion by Yukos.

In 2003, Russian authorities accused the leadership of Yukos, once the largest oil company in the country, of economic crimes. A range of Yukos managers were convicted for fraud and tax evasion. Yukos was later declared bankrupt and the state-controlled oil company Rosneft bought the bulk of its assets.

Yukos' managers contended that the Russian government illegally forced the oil firm out of business and bankrupted it.

In July 2014, the ECHR ruled that Russia must pay about $2 billion to the shareholders of Yukos. The Russian Justice Ministry said it would not follow the court's ruling because compliance would put the ministry in breach of Russia’s constitution.

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