Moscow - Russia will appeal a decision of the Hague court that ruled on Monday that Moscow must pay a group of shareholders in now-defunct oil giant Yukos $50 billion (R529 billion) for expropriating its assets, the Russian Finance Ministry said in a statement.

“The Russian Federation drew attention to ... serious flaws in the decision of the arbitration court,” the Finance Ministry said.

“The Russian Federation will challenge the arbitration court's decisions in the courts of the Netherlands.”

The ministry called the ruling “politically biased.” - Reuters