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In 2014 an independent, international Arbitral Tribunal in The Hague ruled 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.

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 utter 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 upheld and enforced.

In 2016 The Hague District Court decided to set aside the Arbitral Awards, ruling that the Arbitral Tribunal had no jurisdiction to consider the claims against the Russian Federation. On 23-24 and 30 September 2019, The Hague Court of Appeal will hold a hearing on our Appeal to reinstate the Arbitral Awards. You can read about the Appeal and the hearing here.

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  • 21-01-2019 

    Dutch Supreme Court rules that Russia unlawfully bankrupted Yukos

    On Friday 18 January 2019, the Dutch Supreme Court ruled that Russia unlawfully bankrupted Yukos Oil Company. The judgment upholds the ruling of the Appeals Court, which found the politically-motivated bankruptcy so egregious that it violated Dutch public policy.

  • 25-09-2018 

    GML welcomes The Hague Appeals Court ruling

    On 25 September 2018, The Hague Appeals Court clarified the scope of the ongoing Dutch set-aside proceedings where former Yukos majority shareholders (GML) aim to reinstate the Arbitral Awards of 2014, which awarded them more than $50 billion in compensation after Russia unlawfully expropriated their investment.

  • 19-06-2018 

    GML takes part in procedural hearing in The Hague

    On 19 June 2018, GML, the former Yukos majority shareholders, took part in a procedural hearing at The Hague Court of Appeal. This was part of the ongoing Dutch set-aside proceedings in which GML aims to reinstate the Arbitral Awards of 2014.

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  • 20-04-2016 

    Decision of The Hague District Court setting aside the arbitral award (2016)

  • 31-07-2014 

    European Court of Human Rights : Yukos v Russia (2014)

  • 18-07-2014 

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