Ex Yukos Shareholders Win $50B Landmark Case Against Russia

The Hague’s arbitration court ruled Monday that Russia owes former shareholders of the now-defunct oil giant Yukos over $50 billion in damages for seizure of the company. GML Ltd, the holding company for Yukos’ former main shareholders, said Monday that the decision showed Russia’s campaign against Yukos was “politically motivated”. Yukos crushed with tax claims Yukos was once Russia’s largest oil company, but was crushed with tens of billions of dollars in back-tax claims starting in 2004, and its main assets were eventually sold off to state-controlled Russian companies. The destruction of Yukos was widely considered to be coordinated by…