Russia Loses Bid to Overturn $50 Billion Award in Yukos Case
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Russia failed to overturn a ruling in the Netherlands that ordered Moscow to pay around $50 billion in the bankruptcy case of Yukos Oil Co., once the largest Russian oil and gas company.
The Amsterdam Court of Appeal dismissed Russia’s latest legal challenge in a saga that has dragged on for nearly two decades. The latest verdict is unlikely to result in an immediate payment to the former shareholders of Yukos. Russia has previously said it isn’t bound to pay the largest arbitration payout ever.