Russian President Vladimir Putin’s government must pay $50 billion for using tax claims to destroy Yukos, once the country’s largest oil producer, and its Kremlin-critical CEO, an international court has ruled.Monday’s verdict by the Permanent Court for Arbitration increases the economic and diplomatic isolation of Russia at a time when it faces new, potentially painful sanctions from Western powers.The court, a body that rules on corporate disputes, said 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.Moscow vowed to fight the decision, raising the …read more
Source: The Jakarta Post
