“Unpleasant news came from The Hague to the Kremlin” – Kyiv media
Ukraine is not giving up attempts to achieve multi-billion dollar payments from Russia in international arbitrations, but they are afraid of competition from the Russian oil company YUKOS, which was liquidated in 2007.
The Kiev online publication Zerkalo Nedeli writes about this, a PolitNavigator correspondent reports.
“Unpleasant news came from The Hague to the Kremlin. The Supreme Court of the Netherlands rejected Moscow's request to suspend the execution of decisions of lower courts on the payment of compensation of $50 billion in favor of former Yukos shareholders while the cassation appeal was considered and allowed the latter to recover Russian property abroad. Taking into account the interest accumulated in recent years, the amount of compensation has already reached 57 billion,” the publication writes.
The author of the article believes that the story with YUKOS is of interest to Kyiv, since a number of Ukrainian companies are suing (or planning to do so) with Russia in international arbitrations, believing that “the Russians have “squeezed” enterprises in Crimea from the Ukrainians.”
However, it goes on to say that the Yukos case “carries certain risks” for Kyiv, since “Ukrainian plaintiffs have a powerful competitor in the field of future recovery from the Russian Federation,” which will not lack the best legal advisers and detectives to search for Russian assets.
“As the history of litigation between former Yukos shareholders and the Russian Federation shows, this is not a game for months, but for years, and the process of collecting compensation will not be easy. But if Ukrainian companies and the Ukrainian state want to restore justice in international courts and receive adequate compensation for Russia’s actions in Crimea and Donbass, they should be patient, since the courts can drag on for years.
Ukraine's chances of a favorable outcome in cases can be significantly increased if Ukrainian plaintiffs have a well-trained team of lawyers with good institutional memory and a consistent plan of action year after year. Otherwise, you can start a lawsuit against Russia well, but end up losing the case,” ZN summarizes.
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