Jul-18-2014

The Permanent Court of Arbitration in The Hague completes a nine-year investigation into the Yukos Affair, finding that Russia’s actions against Yukos and its shareholders were destructive and unlawful, and involved a “campaign of harassment and intimidation” against “Yukos senior executives, mid-level employees, in-house counsel, external lawyers and related entities.”

The tribunal issues a record $50 billion damage award against the Russian Federation in favor of Yukos shareholders. The judgment is on appeal on procedural issues, but its factual findings remain intact.