LONDON—Russia was ordered Monday to pay more than $50 billion for expropriating what was once the country’s largest oil producer, Yukos, in a court ruling that adds economic and diplomatic pressure on the country at a time of increasing isolation.
The Permanent Court for Arbitration, a body that rules on global corporate disputes, said Monday the Russian government owes the money — a huge sum, even for such an oil-rich nation— to the former majority shareholders in Yukos Oil Co.
With its economy grinding to a halt and new sanctions from Western powers hanging over the country, Moscow vowed to fight the …read more
Source: The Epoch Times
