18:52 GMT +323 October 2018
Listen Live
    The Yukos office building

    Russia to Challenge State Property Arrest in Court Over Yukos Case

    © Sputnik / Vladimir Vyatkin
    Russia
    Get short URL
    0 73

    Russian presidential aide Andrei Belousov said that Moscow will challenge the arrest of its property abroad in court.

    ST PETERSBURG (Sputnik) Russia will challenge the arrest of its property abroad in court, as the Permanent Court of Arbitration in The Hague decided to award former Yukos shareholders with millions of dollars in compensation from Russia, Russian presidential aide Andrei Belousov said Thursday.

    "We shall challenge these decisions regarding both France and Belgium, and all the other countries. We consider that in everything related to The Hague court's decision there was a whole number of legal uncertainties," Belousov told journalists.

    According to Belousov, international lawyers are currently working on the case to protect Russia's interests.

    Moscow's court of arbitration declared Yukos bankrupt in 2006. State-run Rosneft subsequently purchased about 80 percent of the company's assets.

    Yukos's stakeholders claimed the Russian government had illegally forced the energy company out of business, allowing Rosneft to snap up its assets and become the country’s largest oil producer.

    The court in The Hague has awarded three companies representing former Yukos co-owners $50 billion in compensation from the Russian government.

    On June 17, officials notified 47 Belgian and Russian enterprises registered in the region of Brussels on the requirement to submit a list of Russian assets in their possession within 15 days.

    Russia expects that a number of foreign countries will follow Belgium's example and arrest Russia's governmental assets, presidential aide Andrei Belousov said.

    Belgian law enforcement notified Belgian, Russian and international companies in Belgium of arrest of Russian state property over the Yukos ex-shareholder court case.

    "This was not unexpected for us. We believe that the decisions that were made, were made erroneously… We forecast a number of countries that will introduce analogous measures. I don't want to name them now," Belousov told journalists.

    Related:

    Russia's Rosneft Settles Longstanding Legal Dispute With Yukos
    Russia Readies to Prevent Arrests of State Property Amid Yukos Case
    Tags:
    property, arrest, Yukos, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment