March 17, 2017 — The majority shareholders of the former Yukos Oil Company have submitted their statement of appeal against the Russian Federation to The Hague Court of Appeal. The former majority shareholders aim to overturn The Hague District Court’s decision of April 2016 that set aside the arbitral awards of July 2014. The 2014 awards ruled that the Russian Federation illegally expropriated Yukos Oil Company in violation of the investment-protection provisions of the Energy Charter Treaty. An independent tribunal awarded the majority shareholders more than $50 billion in compensation.