Central Case
In 2014, a panel of three international arbitrators granted three awards totalling $50bn to the Yukos oligarchs, against Russia. On 20 April 2016, the District Court of The Hague overturned the awards stating that the panel of arbitrators had no jurisdiction to hear the case. On 18 February 2020, The Hague Court of Appeal annulled the decision of the District Court of The Hague. On 15 May 2020, the Russian Federation submitted an appeal to the Dutch Supreme Court regarding the Judgement of The Hague Court of Appeal.
What Next?
Attempted asset seizures
On the 28 July 2016, the Yukos oligarchs abandoned their claim to seize Russian assets in India.
On the 27 July 2016, the Yukos oligarchs withdrew their claim to seize Russian assets in Germany.
The Russian Federation has successfully defended attempts by the Yukos Oligarchs to seize Russian assets in Belgium.
MORE INFORMATIONThe Russian Federation has successfully resisted a number of attempted asset seizures in France and continues to defend its interests in French courts.
MORE INFORMATION8/6/2016 - The Yukos oligarchs suspended their seizure attempts in the UK
On the 30 September 2016 the US court agreed to stay a suit brought by the Yukos oligarchs attempting to enforce the arbitral awards against Russia.