Russia to challenge Yukos ruling

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.

File photo. Credit: Independent Newspapers

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

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