We’ve been keeping our eye on the Yukos wars for some years now. These are the massive battles over the remains of OAO Yukos Oil Company, which was dismantled between 2004 and 2007 after the Russian government hit the company with billions in back taxes. In each of the three Arbitration Scorecard surveys that we’ve published since 2005, the same Yukos-related cases topped the contract and treaty arbitration charts. The contract arbitration, in which some $28 billion was at issue, settled confidentially three years ago, but the other whopping case continues: the majority shareholders of the old Yukos pitted against the Russian Federation in the Permanent Court of Arbitration in The Hague.
Other Yukos cases are ongoing, too, including two more arbitrations in Stockholm and a litigation at the European Court of Human Rights. Although Russia contests them vigorously, all four claims have survived jurisdictional challenges and are being heard or will be heard on the merits.
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