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Page added on July 29, 2014

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Yukos shareholders say would talk to Russia over $50 bln

Business

Shareholders of former Russian oil producer Yukos would be willing to discuss with Russia a court’s decision to award them $50 billion in compensation, a spokesman for holding company GML said on Tuesday.

“We have always been ready to negotiate with the other side. GML made many attempts to do so ahead of initiating this arbitration and received no response,” the spokesman said, after the court in the Hague ordered that Russia must pay $50 billion for expropriating the assets of Yukos.

Russia must pay the compensation to subsidiaries of Gibraltar-based Group Menatep, a company through which Mikhail Khodorkovsky, who fell foul of the Kremlin, controlled Yukos. Group Menatep now exists as the holding company GML, and Khodorkovsky is no longer a shareholder in GML or Yukos.

Tim Osborne, director of GML, has said that the ruling “cannot be disputed”.

Russia, whose economy is on the brink of recession, said it would appeal the ruling by the Dutch-based panel, which judges private business disputes.

Russia has to star paying by Jan. 15 next year or facing rising interests on the fine.

Former Russian presidential adviser Andrei Illarionov has said if Russia avoided payment it could face asset seizures around the world.

reuters



9 Comments on "Yukos shareholders say would talk to Russia over $50 bln"

  1. MSN Fanboy on Tue, 29th Jul 2014 2:41 pm 

    Great, piss off Russia some more. Well done chaps.

    American Foreign Policy:

    Step 1, Beat shit out of smaller countries.

    step 2, Shy away from real fights, impose sanctions, talk about “red lines” and grandstand. Talk up War, but ultimately know not to go through with it: Then repeat step 1 to prove USA NUMBER ONE.

    Bullying is Bullying

  2. Feemer on Tue, 29th Jul 2014 5:43 pm 

    MSN, putin is a bully, and a de facto dictator who rigged his last election (107% of people voted). Putin needs to fuck off, Ukraine should decide its own future without russia supplying arms and money to the rebels

  3. Feemer on Tue, 29th Jul 2014 5:44 pm 

    furthermore, who gives a shit if russia is pissed off? Following a policy of appeasement didn’t work with Hitler and it won’t work with Putin

  4. Davy on Tue, 29th Jul 2014 6:32 pm 

    Pretty much Putin is to the west in the same comparison as an asshole is to an asshole. The aurguments on both sides here do not prove a benign side. Both sides are flirting with all of our survival and for what? basically pride and hubris.

  5. dissident on Tue, 29th Jul 2014 8:00 pm 

    Feemer, stop spewing MSM propaganda like a stupid parrot. You have no clue about life in Russia. I do since I have half my family there (the other half is in western Ukraine). If Putin is a dictator then so is Obama and Harper. Your opinion is generated by BS such, for example, media articles which talk about Russian shelling of Ukrainian territory and show pictures of damage caused by Kiev regime forces as the attack Donbas towns with indiscriminate artillery and MLRS fire. You will note there were no houses in any of the photographs given by the US as proof of the shelling. But the media embellishes it beyond recognition.

  6. dissident on Tue, 29th Jul 2014 8:03 pm 

    Yukos shareholders need to take their case to Russian courts. Some arbitration court in Holland does not have the authority (even by international law) to overrule Russian courts. Arbitration courts deal with business disputes and not criminal cases. This ruling is absurd.

  7. Makati1 on Tue, 29th Jul 2014 8:57 pm 

    Russia is going to use the courts to delay this forever. (Or until the world war starts) The Yukos will never see a ruble. Ask the winners of the Exxon Valdez spill if they were ever paid. A team of lawyers have been living high off of that one for the last 20+ years.

    Putin is the smartest one in the current crop of world leaders. The rest are just wannabees. Europe is going down the tubes beside the US. All Putin has to do is wait. He knows that. The illegal Ukraine government is already falling apart on its own.

    Perhaps Europe has forgotten how the Russians stopped the Germans cold when they invaded Russia. Sent them home with their tails between their legs. The ones that lived to tell the tale, that is. And without nukes. Now, it will go nuclear quickly as the West cannot win any other way. That’s how I see it.

  8. Davy on Wed, 30th Jul 2014 8:28 am 

    Russia has population and economy in decline. The only think not in decline is adventurism. This adventurism will be paid for with Chavez style economic policies. Do you all remember Chavez? I am not an ideologue nor propagandist like some here. I am looking for truth, balance, and fairness. The Russians are in an advantageous position “But” it is a position they are pissing away quickly. Foreign adventures coupled with economic decline in Russia’s case will be paid for by the oil and gas industry with more taxes and less investment. Russia is in a spiral down and anyone that talks Russia up is dismissing the truth for fantasy. This is another nail in the coffin for what I call disequilibrium of the global system. Russia is a critical node in this system. This indicates more stress and more risk for a bifurcation of the entire global system.

    I tried to include this article on Ron Pattersons site “Anticipating the Peak of World Oil Production” Russian’s discussion in this post but it will not post it.

  9. Davy on Wed, 30th Jul 2014 8:31 am 

    OK, I could not reference Ron Patterson’s site in my post. Is there some kind of censorship of references going on here?

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