Hague court to order Russia to pay $50 billion in Yukos case: report

Sun Jul 27, 2014 7:39pm EDT

Derricks at Yuganskneftegaz oil processing facility at Mamontovskoye oilfield outside the Siberian town of Nefteyugansk. REUTERS/Sergei Karpukhin

Derricks at Yuganskneftegaz oil processing facility at Mamontovskoye oilfield outside the Siberian town of Nefteyugansk.

Credit: Reuters/Sergei Karpukhin

(Reuters) - The Permanent Court of Arbitration in The Hague will on Monday announce that Russia must pay $50 billion to former shareholders of the defunct oil company Yukos, Russian business daily Kommersant reported on its website, citing unnamed sources.

The newspaper said Russia was expected to appeal against the ruling. A group of shareholders in Yukos had made a $100-billion claim against Moscow for expropriating the company that was controlled by Mikhail Khodorkovsky, once Russia's richest man.

(Reporting by Tom Miles; Editing by Sandra Maler)

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