20:54 GMT28 October 2020
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    Russian oil and gas giant Rosneft and its subsidiaries have reached an agreement with the now-defunct Yukos group companies and their shareholders, the company's website announced on Wednesday.

    MOSCOW (Sputnik) — The March 31 agreement specifies no monetary or other payments from Rosneft or its subsidiaries will be made to Yukos.

    "In accordance with the terms of the agreement, the parties waive all mutual claims and cease all existing legal and other disputes, and agree not to launch any claims in the future in connection with the bankruptcy and liquidation of Yukos Oil Company," the message on the Rosneft's website reads.

    Yukos, once Russia’s biggest oil company, was declared bankrupt in 2006. State-run Rosneft subsequently purchased about 80 percent of the assets of the company. In response, Yukos subsidiaries initiated court proceedings against Rosneft, accusing it of illegal actions during the Yukos liquidation.

    Yukos filed suits against Rosneft to international courts in the Netherlands, Britain and the United States.

    In February, Amsterdam district court found that the claim by Yukos International, formerly a part of Yukos, was legitimate, but did not stipulate the size of the compensation, which will be considered during a damage assessment procedure.


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