CORRECTED-Russia to challenge Hague Court's Yukos ruling -Finance Ministry

Mon Jul 28, 2014 11:48am EDT

(Corrects lead to say $50 billion, not $51 billion)

MOSCOW, July 28 (Reuters) - Russia will appeal a decision of the Hague court that ruled on Monday that Moscow must pay a group of shareholders in now-defunct oil giant Yukos $50 billion for expropriating its assets, the Russian Finance Ministry said in a statement.

"The Russian Federation drew attention to ... serious flaws in the decision of the arbitration court," the Finance Ministry said.

"The Russian Federation will challenge the arbitration court's decisions in the courts of the Netherlands."

The ministry called the ruling "politically biased."

(Reporting and writing by Lidia Kelly, editing by Thomas Grove/Ruth Pitchford)

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