Russia Fails to Halt Enforcement of Yukos $57 Billion Award
- Dutch Supreme Court to rule on appeal against damages in 2021
- Award equals about a tenth of Russia’s international reserves
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Russia lost a bid to suspend enforcement of $57 billion in damages and interest won by former shareholders of Yukos Oil Co. as the government awaits a ruling on its final appeal against the arbitration award late next year.
The Dutch Supreme Court’s decision on Friday follows The Hague Court of Appeal’s February decision to reinstate the record damages in the 15-year legal saga that has raged between the Kremlin and the owners of what was once Russia’s biggest oil company.