Ex-Yukos Unit Wins New $5 Billion Court Judgement Against Russia
- Damages are separate from $57 billion Yukos award under appeal
- Kremlin has said it’s not bound by earlier Yukos award order
Photographer: Dmitry Beliakov/Bloomberg
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A former unit of Yukos Oil Co. has won a multi-billion dollar damages claim against Russia at the Permanent Court of Arbitration, the Russian Prosecutor-General’s Office said Thursday.
An international tribunal in Geneva constituted by The Hague-based court ruled that Russia illegally expropriated loans provided by Yukos Capital Sarl to its former parent company, the prosecutor’s office said in a website statement. The compensation is for $2.6 billion in loans and interest, it said.