Former Yukos shareholders have put forward a plan to the Council of Europe committee of how Russia should pay them compensation which was awarded by the ECHR in July of last year. The awarded amount totals 1.866 billion euros. This sum, according to the court, should be transferred to former shareholders of the company who were on the company register when Yukos was dismantled. The validity period for claims from Yukos shareholders will run until 31st December 2018. In mid-June, representatives of the ex-owner of the company, Mikhail Khodorkovsky, began recovery proceedings in Europe and the US for 50 billion USD, which was adjudged in an arbitrary court in the Hague as the sum which Russia should pay.
The former shareholders of Yukos reminded themselves once again of how informational pressure is an important factor in their proceedings against Russia. Russia has on many occasions announced that it will not pay any compensations and that it will contest any decision against it in court. The history of Yukos compensations will most likely drag on. It’s worth noting that the proceedings have been launched against Russia and not the Russian state oil and gas holding group. We believe it unlikely that the Yukos shareholders will receive a penny in compensation. For the Russian government this is a question of principle, never mind the loss of face payment to oligarchs would cause for the state within the country. In any case, shareholders of Rosneft, Gazprom and Gazprom oil have nothing to worry about. The news of the judicial process is unlikely to have any effect on stock market quotes.