"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.
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.