Russia Loses Appeal Against $50 Billion Payout to Ex-Yukos Shareholders

The Amsterdam Court of Appeal rejected on Tuesday Russia’s final argument in an appeals case against an arbitration award in which Moscow has to pay $50 billion to the former shareholders of Yukos for deliberately bankrupting Russia’s biggest oil firm in the early 2000s and prosecuting its CEO Mikhail Khodorkovsky. The former shareholders of Yukos and the Russian state have been dragging the case through various courts in the Netherlands for over a decade. Former Yukos owner and critic of the Kremlin, Mikhail Khodorkovsky,…