icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Ex-Yukos shareholders give up fight for Russian assets in France

Ex-Yukos shareholders give up fight for Russian assets in France
All the proceedings in France against Russia initiated by former shareholders of the defunct oil firm Yukos have been terminated as the plaintiffs withdrew their claims.

The seizure of Russian property in France will now be lifted, according to the International Center for Legal Aid, published on Tuesday.

“Today, on October 10 former Yukos shareholders declared they terminated all litigations they had initiated in 2014 in an attempt to achieve the recognition and enforcement of The Hague Tribunal’s decisions in France. This means that all arrests from Russia’s assets in France will be lifted,” said Andrey Kondakov, the chief of the center.

After the 2014 court ruling, France seized Russian state assets worth several hundred million euro — including a plot of land on which a new Orthodox cathedral in Paris is located and Moscow's stake in the Euronews TV channel.

Bank accounts and some €300 million of debt owed by satellite company Arianespace to the Russian space agency were also seized in a case.

This is the latest legal setback for the former shareholders. In a significant victory for Moscow in April last year, a Dutch district court ruled that the Hague-based International Permanent Court of Arbitration (PCA) did not have the legal authority to award $50 billion in compensation in the first place.

Now, the dispute will be reviewed by The Hague Court of Appeal.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts