Russia Wins Bid to Topple $50 Billion Yukos Award for Now

Judgment marks latest stage in the 16-year Yukos legal saga
Ex-Yukos owners will face a fight to collect record judgment

Photographer: Alexander Korolkov/AFP/Getty Images

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By Jake Rudnitsky, April Roach and Irina Reznik

November 5, 2021 at 9:49 AM UTC

Updated on

November 5, 2021 at 11:41 AM UTC

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Russia succeeded in overturning part of a judgment for a record $50 billion to former shareholders of Yukos Oil Co., meaning the 16-year legal saga that raged between the Kremlin and the owners of what was once Russia’s biggest oil company is set to continue.

The ruling by the Netherlands’ highest court Friday overturned a prior opinion into the bankruptcy of Yukos. The Dutch Supreme Court said in a judgment that a lower court should review one ground of the case again.