Europe’s top human rights court said Tuesday that it had rejected an appeal from Russia over a ruling that it must pay 1.9 billion euros in damages to shareholders of defunct oil giant Yukos.
Yukos, once worth $40 billion, was broken up and nationalized a decade ago, with most of its assets eventually handed to Rosneft, an energy giant run by an ally of President Vladimir Putin.
The Strasbourg-based European Court of Human Rights (ECHR) awarded the shareholders compensation in July, saying Russia had failed to “strike a fair balance” in its treatment of Yukos, once run by former oligarch and Kremlin …read more
Source: Voice of America
