On Friday, the Supreme Court of the Netherlands rejected Russia's final appeal against an arbitration ruling to pay 50 billion dollars to former shareholders of the Russian oil giant "Yukos", who claimed that Moscow deliberately bankrupted the company more than 20 years ago, reports AP.
The Supreme Court upheld the decision made last year by judges in Amsterdam that Moscow seized control of "Yukos" in 2003, deliberately paralyzing the company with enormous tax demands.
Tim Osborne, CEO of the holding company GML, representing the interests of former majority shareholders, stated that the Supreme Court's decision "is not only a historic victory for the shareholders but also affirms the fundamental principle of justice that no state, even one like Russia, can stand above the law." Osborne also added that all efforts will now be focused on enforcing the decision against Russian state assets worldwide until "every penny of the awarded amount is returned."
GML stated that with interest, the awarded compensation amount has increased to more than 65 billion dollars.