The Federal Court of Switzerland rejected the appeal of Russia and ordered Moscow to pay $ 2.63 billion the former structure of the Yukos group, Yukos Capital Sarl.
Agency France-Presse reports that Russia disputed the competence of the court in relation to this case. However, the court rejected this argument.
In July 2021, the International Arbitration under the auspices of the Permanent Arbitration Court in The Hague awarded Yukos Capital compensation for $ 5 billion based on interest and legal costs. In August 2021, Russia accused the company of declassifying the court decision, since this was a violation of the confidentiality of the proceedings. Russia announced the intention to protect its rights.
Russian media recall that Yukos Capital initiated an arbitration against Russia in 2013, demanding $ 13 billion as compensation. The company stated that it issued Yukos loans that were not returned due to bankruptcy and liquidation of the company on decisions of the Russian authorities. Yukos enterprises Yuganskneftegaz and Samaraneftegaz occupied $ 11.2 billion and $ 2.4 billion rubles from Yukos Capital. respectively. The Russian authorities stated that the funds belonged to Yukos and were used in illegal schemes to withdraw funds and tax evasion.