A group of major shareholders in dismantled Russian oil giant Yukos announced they were giving up their efforts to seize lucrative state assets as compensation in France following a series of legal setbacks.
The Permanent Court of Arbitration in the Hague has said it has jurisdiction to hear the case of a Ukrainian company seeking to recover damages for property lost when Russia annexed Crimea.
Yukos, once Russia’s largest oil major, was accused of tax crimes and declared a bankrupt by a Russian court ruling in 2006 while its assets were sold at auctions during the liquidation procedure.
Taking into account the past Belarus practice of investor – state dispute settlement, the parties are more likely to settle Manolium Processing claim as a part of the pre-arbitration negotiations than by ICSID arbitration.
Moscou menace Paris de représailles à la veille d’une décision judiciaire française portant sur les saisies de biens russes dans l’Hexagone liées à la nationalisation de la compagnie pétrolière.
Ukraine will use all legal mechanisms seeking invalidation of the international arbitration court’s ruling ordering Ukraine to pay Tatneft $144 million.