Court orders Russia to pay some $50 billion in damages to Yukos shareholders

AMSTERDAM (Reuters) – An arbitration court in the Netherlands on Monday ruled in favour of shareholders in defunct Russian oil giant Yukos, ordering Moscow to pay roughly $50 billion in damages.

The Permanent Court of Arbitration in The Hague issued rulings in three separate cases which had sought a total of $100 billion from Russia for expropriating Yukos, formerly controlled by Mikhail Khodorkovsky, once Russia’s richest man.

(Reporting by Anthony Deutsch- Editing by Alison Williams)