Friday 19 June 2015

France and Belgium freeze Russian state assets over Yukos case - FT.com

France and Belgium freeze Russian state assets over Yukos case - FT.com:



"Russia said its lawyers were studying French and Belgian moves to freeze state assets in an attempt to enforce a $50bn damages award to controlling shareholders of the bankrupt Yukos oil company.



News of the freezes on Thursday caused a stir as political and business leaders gathered for the annual St Petersburg economic forum. Russian authorities are seeking to woo foreign investment at the economic showcase event despite international sanctions against the country over Ukraine.



Four main shareholders of Yukos were awarded $50bn damages against Russia in July by an arbitration panel in The Hague — by far the biggest compensation award in an arbitration case."



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