May 15, 2020 / 9:54 AM / 20 days ago

Russia appeals $57 billion Yukos payout in Dutch Supreme Court

MOSCOW, May 15 (Reuters) - Russia on Friday lodged an appeal at the Dutch Supreme Court to contest a Dutch court ruling requiring Russia to pay $57 billion to shareholders in the now defunct Russian oil giant Yukos, Russia’s Justice Ministry said.

A Dutch appeals court on Feb. 18 overturned the annulment of a $50 billion award to Yukos shareholders, a surprise ruling 13 years after the assets came under control of the Kremlin.

The Justice Ministry said the sum due had increased to $57 billion because of additional penalty fees, the RIA news agency reported.

The February verdict reinstated a decision by The Hague-based Permanent Court of Arbitration (PCA) ordering the Russian state to compensate shareholders in the company once headed by Mikhail Khodorkovsky.

That decision had been overturned in April 2016 by The Hague District Court. (Reporting by Anton Kolodyazhnyy; Writing by Tom Balmforth; Editing by Alex Richardson)

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