Support The Moscow Times!

Russia to Appeal European Ruling on Yukos by End of October

Former Russian tycoon Mikhail Khodorkovsky speaks about his "Open Russia" movement at the Council on Foreign Relations in New York.

Russia will appeal against a decision by Europe's top human rights court to award shareholders in Yukos 1.9 billion euros ($2.42 billion) by the end of this month, the RIA news agency quoted Justice Minister Alexander Konovalov as saying Thursday.

In July, the European Court of Human Rights found that Russia had failed to "strike a fair balance" in its treatment of Yukos, once run by former oligarch turned Kremlin critic Mikhail Khodorkovsky, and had forced the now defunct company to pay excessive fees.

"Absolutely, by Oct. 30 [we will appeal]," RIA quoted Konovalov as saying.

Yukos, once worth $40 billion, was broken up and nationalized a decade ago, with most of its assets eventually handed to Rosneft, an energy giant run by an ally of President Vladimir Putin.

Konovalov said Moscow may also appeal the ruling of the international arbitration court in The Hague which handed some Yukos shareholders $50 billion, but added that Russia's Finance Ministry was dealing with that ruling.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more