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Khodorkovsky Calls Yukos Ruling 'Fantastic'

Russian former oil tycoon Mikhail Khodorkovsky.

Mikhail Khodorkovsky, once Russia's richest man and head of the now defunct Yukos company, said on Monday he was satisfied with a court ruling that awarded shareholders of the company over $50 billion in compensation in a legal battle against Russia.

"It is fantastic that the company shareholders are being given a chance to recover their damages," he said in a statement.

He said that he was not a party to the legal proceedings and does not seek to benefit financially from the outcome of the arbitration.

The $50 billion awarded by the Hague's arbitration court against Russia is the largest arbitration award ever, Tim Osborne, director of the GML group of shareholders which made the claim, said at a news conference Monday.

See also:

Yukos Shareholders Win $50 Billion Case Against Russia

Lavrov Says Russia May Appeal Yukos Ruling

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