EURASIA LIFT

Human Rights Issues in Eurasia / Правовые Вопросы В Регионах Евразии

European Court Delivers Mixed Ruling On Yukos

Posted by Info on 21/09/2011

The European Court of Human Rights ruled that the Russian authorities had violated the rights of the now-defunct Yukos company, but rejected claims that the break-up of the oil giant was politically motivated.
The split decision was welcomed by both sides.

The court also deferred consideration of a Yukos claim for $98 billion in compensation, giving the parties three months to reach an out-of-court settlement. The claim was the biggest ever filed at the court.

Yukos first became the subject of tax proceedings in 2002, when tax authorities accused it of setting up shell companies to hide earnings. It was declared insolvent in 2006 and was liquidated the following year. Its vast assets were acquired by the state-run Rosneft oil company.
Khodorkovsky was arrested in 2003 on tax evasion charges and sentenced to eight years in 2005. His sentence was extended in a second trial on separate charges earlier this year and he is now due for release in 2016.

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