Skip to comments.Russia to appeal $50bn Yukos shareholder payout
Posted on 07/28/2014 1:50:23 PM PDT by Berlin_Freeper
Russia will appeal a court decision ordering it to pay $50bn (£29.5bn) in damages, the biggest compensation package ordered to date.
Russia was told to pay the money to former shareholders in the now defunct oil producer Yukos.
The Hague court said Russian officials had manipulated the legal system to bankrupt Yukos, and jail its boss.
(Excerpt) Read more at bbc.com ...
Hey did you hear some Brit law firm suing Vlady and Russia over MH airliner shooting down tragedy I read on UK Sunday Telegraph this weekend
"If the Russian government tries to avoid paying these charges, then there will be freezing of Russian assets all over the world," said Andrei Illarionov, former economic adviser to President Vladimir Putin and now his critic.
Shares of Sberbank, Russia's largest lender, closed 3.1 percent lower. "Usually, when traders and investors want to bet on an improvement of the situation in Russia, then they buy Sberbank (shares)," said in a note Airat Khalikov, analyst at Veles Capital in Moscow. "Unfortunately, now we see the opposite. The decline in Sberbank stocks may be an indicator of a fundamental reassessment of the negative prospects of the Russian economy."
Only fools go into business with anything coming out of or in Russia.
“If the Russian government tries to avoid paying these charges, then there will be freezing of Russian assets all over the world,”
I don’t think Putin cares much about this.
There is a lot more Euro money in Russia, than Russian money in Europe.
Start seizing assets, and Putin declares that Gas has to be paid for in Gold and Rubles, something they are already said to be moving toward. That’ll blow the lid off of the Euro economy, and everybody knows it.
Winter is coming to Europe soon, and war, hot or economic, isn’t likely to be far behind.
U.S. and Europe Set to Toughen Russia Sanctions
American officials were heartened by the agreement, saying it would frustrate efforts by President Vladimir V. Putin of Russia to drive a wedge between the United States and its allies. The key to the agreement, they said, was Chancellor Angela Merkel of Germany, who dropped her past reluctance and pressed for more assertive moves, which forced the French to go along, and that then forced the Italians to give in.