: :inin Kyiv (EET)

Court Rejects Russia’s Appeal Over Oil Company Compensation


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

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