An international tribunal in The Hague today (28 July) ordered Russia to pay $50 billion (€37.2bn) to investors who held shares in the now-dismantled oil company Yukos, once Russia’s largest oil company. The award is 20 times higher than any previous award by the court, the Permanent Court of Arbitration, and the wording leaves no doubt that politics and a desire to appropriate Yukos’s assets – not a clampdown on tax evasion – motivated the Russian states’ actions.
“In the tribunal’s view, it may well be that, while Yukos was vulnerable on some aspects of its tax optimisation scheme…the State apparatus …read more
Source: European Voice
