-
Court orders Russia to pay $50bn to Yukos shareholders
A court in the Hague has awarded shareholders in the defunct Russian oil company Yukos the largest compensation package to date. The Court of Arbitration said Russia should pay $50bn (£29.5bn) in damages. It said Russian officials, under President Putin, had manipulated the legal system to bankrupt Yukos, and jail its boss, Mikhail Khodorkovsky for fraud and tax evasion. Russia's Foreign Minister said Russia would most likely appeal the decision. Yukos was once the country's largest oil producer. 'Major step' Foreign Minister Sergei Lavrov said: "The Russian side, those agencies which represent Russia in this ... (full story)