All arrests of property of the Russian Federation on the “case of Yukos” in France will be removed, since terminated all enforcement proceedings initiated by the former shareholders of the oil company. This was stated by the leader representing the interests of the Russian Federation on the “case of Yukos” International centre for legal protection (MTSPZ) Andrey Kondakov, reports TASS.
The removal of the arrests was made possible, as explained RBC, due to the fact that the former majority shareholders of Yukos no longer claim to Russian state-owned assets in France, because attempts to recover payment “has lost economic sense.”
As reported in the company GML, representing the interests of former Yukos shareholders, their customers decided to “focus their energy on trial in the Hague court of appeal”.
“Our decision today does not rule out that we can go back to France for enforcement of arbitral awards in some point in the future,” – said the publication representative of GML Jonathan hill.
Kondakov, in turn, stressed that France was the last country in which the arrest of Russian property claims Yukos was cancelled. “This became possible as a result of built a coordinated system of protecting Russian interests along the line of the Ministry of justice, Ministry of foreign Affairs of the Russian Federation, MTSPZ and a group of foreign lawyers,” he explained.
According to him, the withdrawal of all arrests of property of the Russian Federation in France, was announced just hours before Russia had submitted its regular Declaration to the court of appeal of Paris.
“Thus, at the moment, all enforcement proceedings against the Russian Federation, initiated by the former shareholders of Yukos, has been terminated or suspended. The main struggle now will be channelled to the court of appeal of the Hague, which we hope will confirm the decision of the district court of the Hague, abolished in April 2016 of the decision of the Hague Tribunal,” said Kondakov.
The information that the former shareholders of Yukos has decided to abandon the claims about the arrest of Russian assets in France, also confirmed the Minister of justice of the Russian Federation Alexander Konovalov, the newspaper “Vedomosti”. “In France, interim measures of protection still remained, and in all other jurisdictions they were either suspended or does not come to execution”, – said the official stressed that all security measures will be taken.
The permanent court of arbitration in the Hague in 2014 ordered Russia to pay nearly $ 50 billion to companies affiliated with the former shareholders of Yukos. The court came to the conclusion that Russia’s actions against Yukos could be regarded as expropriation of investments in violation of the 45th article of the Energy Charter, which Russia signed but not ratified.
In November 2014, Russia filed in the district court of the Hague three applications for cancellation of arbitral awards. In June – August, 2015 ex-Yukos shareholders, without waiting for the decision on the complaint of the Federation began the process of enforcement in the courts of the United States, France, Belgium, Germany and the UK of the decision of the Hague court.
April 20, 2016 district court of the Hague quashed the award. In July 2016 it was reported that the protection of the plaintiffs withdrew claims about the arrest of Russian assets filed in the courts of Germany and India.
At the end of September 2016, the former shareholders of Yukos rejected the idea to arrest the construction of a Russian spiritual and cultural complex on the waterfront in Paris, as part of a claim for compensation. Later the court of appeal of Paris overturned the arrests of the French assets of three Russian Federal state unitary enterprises, imposed by the same claims.
In December last year, a court in Sweden refused to the former shareholders of Yukos from Spain, and in June of 2017 in Belgium, the court of first instance overturned the arrests, which were earlier imposed in the country of the Russian property under the claim of former Yukos shareholders.