An arbitration tribunal has awarded more than $50 billion USD in favor of the owners of Yukos, in their long-running dispute against the Russian Federation. The text the Yukos Award has been published and is available online.
The dispute began in 2003, when Russian authorities arrested Mikhail B. Khodorkovsky, Yukos’ founder, and began auctioning off Yukos assets. In a scathing opinion, the arbitration tribunal stated that Russia’s seizure and sale of Yukos’ assets “was not driven by motives of tax collection,” but “by the desire of the state to acquire Yukos’ most valuable asset.”
“In short,” the tribunal stated, “it was in effect a devious […]