In 2014 an independent international Arbitral Tribunal in The Hague ruled unanimously that one of Russia’s most successful companies, Yukos Oil, was illegally expropriated by the Russian Federation. The Tribunal awarded compensation of $50 billion to former Yukos majority shareholders.

On 18 February 2020, The Hague Court of Appeal fully reinstated these Arbitral Awards, overturning a 2016 ruling of the District Court that had set them aside. You can read an apostilled English translation of the judgment of 18 February, which we have made available in the 'Library' section at the foot of this page.

The Russian Federation refuses to pay the Arbitral Awards, and resists every attempt to enforce them. It continues to manipulate democratic and judicial institutions across Europe and the US, showing contempt for the rule of law. In our publication below, we look at the Kremlin's 'War on the West', and remember the courageous individuals who have fought back.

GML, via its wholly-owned subsidiaries, Yukos Universal Limited and Hulley Enterprises Limited, was the majority shareholder of the former Yukos Oil Company. Our goal is to obtain justice by ensuring that the Arbitral Awards are enforced.

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  • 04-12-2020 

    Dutch Supreme Court rules Yukos shareholders can continue to enforce Arbitral Awards

    On 4 December 2020, the Supreme Court (Hoge Raad) of the Netherlands ruled that the former Yukos majority shareholders can continue to enforce their $50 billion Arbitral Awards. You can read the Supreme Court's press release here.

  • 18-05-2020 

    Yukos shareholders seize vodka trademarks in The Netherlands

    The former Yukos majority shareholders have seized a number of alcohol drinks trademarks in the Benelux region, which are owned by the Russian Federation. The trademarks include the well-known Stolichnaya and Moskovskaya vodka brands.

  • 18-02-2020 

    The Hague Court of Appeal reinstates Arbitral Awards

    The Hague Court of Appeal has today reinstated the Arbitral Awards of 2014, which order the Russian Federation to compensate the former Yukos majority shareholders for the unlawful expropriation of their investment. The Awards amount to more than $50 billion, a measure of the company’s success before it was destroyed.

    Tim Osborne, GML’s chief executive, commented: “This is a victory for the rule of law. The independent courts of a democracy have shown their integrity and served justice. A brutal kleptocracy has been held to account.”

Explore our timeline



More articles

  • 04-03-2020 

    The Hague Court of Appeal reinstates Arbitral Awards 18/02/20

  • 18-02-2020 

    Final Award of The Hague Tribunal under the Energy Charter Treaty (2014)

  • 14-01-2020 

    European Court of Human Rights: Khodorkovsky & Lebedev v Russia (2)