Press releases
+-London High Court orders enforcement of the Arbitration Awards in $66+ Billion Yukos Case
LONDON, March 2, 2026 – The High Court in London ruled today that the Yukos arbitration awards should be recognized and that the former majority shareholders can enforce them against the Russian Federation in England and Wales. Building on earlier enforcement milestones in The Netherlands, the ruling adds England and Wales as another key jurisdiction where the former majority shareholders can pursue enforcement of the largest arbitral awards in history – currently exceeding $66 billion including interest. Additional recognition and enforcement proceedings are underway in other jurisdictions, including the United States and Singapore.
Dutch Supreme Court Rejects Russia’s Last Appeal in $65+ Billion Yukos Case
AMSTERDAM, OCTOBER 17, 2025 — The Dutch Supreme Court today rejected Russia’s last remaining legal challenge to the compensation awarded to the Yukos majority shareholders for the illegal expropriation of their investment by the Russian Federation more than twenty years ago. The Dutch Supreme Court added in a press statement: “This ruling by the Supreme Court has definitively ended the Russian Federation’s setting aside proceedings against the arbitral awards“. With no legal remedies left, the largest arbitral awards in history – currently exceeding $65 billion including interest – are now final, irreversible and enforceable against Russian state assets worldwide.Singapore denies Russia immunity in $63+ billion Yukos claim
SINGAPORE, JULY 25, 2025 – The Singapore International Commercial Court today rejected the Russian Federation’s attempt to hide behind state immunity from jurisdiction in the enforcement proceedings brought by the former Yukos majority shareholders. This means the former Yukos majority shareholders are a significant step closer to having the 63-billion-dollar Arbitral Awards enforced against Russian state assets in Singapore.
UK Supreme Court confirms in final judgment: Russia is not protected by immunity in $63+ billion Yukos claim
LONDON, JUNE 30, 2025 – Concluding that it “does not raise an arguable point of law”, the Supreme Court of the United Kingdom today rejected the Russian Federation’s last remaining appeal against the Court of Appeal’s unanimous judgment back on February 12th, which confirmed that Russia was not protected by state immunity in the recognition and enforcement proceedings brought by the former Yukos majority shareholders. This means the issues of jurisdiction and sovereign immunity have been resolved in favour of the former Yukos majority shareholders, who will now focus all their energies on getting the $63 billion awards recognized in the United Kingdom so they can be enforced against Russian state assets here.
Advocate-General advises Dutch Supreme Court to reject Russia’s last remaining appeal in $50+ billion Yukos awards
THE HAGUE, APRIL 11, 2025 – The Advocate General of The Netherlands today advised the Dutch Supreme Court to reject the Russian Federation’s last remaining appeal against the more than $50 billion awarded to the former Yukos majority shareholders. The Awards were issued unanimously in 2014 by an independent Arbitral Tribunal sitting in The Hague. This remains the largest award ever issued in the history of arbitration. The Dutch Supreme Court’s definite ruling in this matter is expected on October 17, 2025.
Court of Appeal in London confirms: Russia is not protected by immunity in $63+ billion Yukos claim
LONDON, FEBRUARY 12, 2025 — The Court of Appeal in London today unanimously dismissed the Russian Federation’s appeal against the High Court’s November 1, 2023 judgment, confirming that Russia is not protected by state immunity in the recognition and enforcement proceedings brought by the former Yukos majority shareholders. In its extensive and well-reasoned judgment the Court of Appeal held that Russia cannot relitigate the issues it had already argued and lost in the legal proceedings in the Netherlands.
Former Yukos Shareholders Achieve Milestone with €1.6 Million Auction of Russian State-Owned Liquor Trademarks
THE HAGUE, JUNE 17, 2024 – The former Yukos majority shareholders successfully auctioned eighteen Russian-owned liquor trademarks in The Netherlands today for EURO 1.6 million. This landmark event marks the first successful enforcement by the former majority shareholders against Putin’s Russia worldwide, ten years after an independent Arbitral Tribunal unanimously ordered Russia to pay over USD 50 billion in compensation for the politically motivated destruction of the Yukos, once Russia’s largest and most successful oil company.
Iconic Russian state-owned vodka brands auctioned June 17th
THE HAGUE, APRIL 24th, 2024 – Eighteen Russian state-owned Benelux trademarks, including those for the iconic vodka brands Stolichnaya and Moskovskaya, will be the subject of an auction on Monday June 17th, 2024 in The Netherlands. The trademarks were seized by the former Yukos majority shareholders to enforce partially their more than $60 billion damages claim against the Russian Federation for the illegal, politically motivated expropriation of the Russian oil giant in 2003.
Dutch Supreme Court throws out the Russian Federation’s last appeal against seizure of iconic Russian vodka brands by the former Yukos shareholders
THE HAGUE, MARCH 22, 2024 – Today, the Supreme Court dismissed the Russian Federation’s last appeal against the seizure of the Benelux trademarks of the iconic Russian vodka brands, Stolichnaya and Moskovskaya. This means Russia has exhausted its last possibility to prevent the former majority Yukos shareholders from putting the rights up for sale in the process of execution of their Arbitral Awards of more than $50 billion in damages for the illegal and politically motivated expropriation of their investments in the Russian oil giant.
Yukos shareholders defeat Russia in last remaining challenge to $50 billion arbitration awards
AMSTERDAM FEBRUARY 20, 2024 – After a decade-long legal battle, the Amsterdam Court of Appeal today dismissed Russia’s last remaining challenge to the $50 billion arbitral awards won by the Yukos majority shareholders for the illegal expropriation of their investment. In a last-ditch attempt to escape accountability, the Russian Federation claimed the former shareholders committed fraud during the arbitration. But the Amsterdam Court dismissed that argument on appeal. Conclusion: the arbitral awards stand.
First successful charge of Russian property in London by Yukos shareholders
LONDON, FEBRUARY 1, 2024 – After the Russian Federation failed to comply with a London High Court order to pay legal costs to the former Yukos majority shareholders following the rejection of the Russian Federation’s claim to sovereign immunity, the shareholders obtained an interim charging order over a vacant plot of land in Kensington belonging to the Russian Federation. This is the first successful charge over Russian property in England ever.
Federal judge denies Russia immunity in record $50 billion Yukos claim
WASHINGTON D.C., NOVEMBER 16, 2023 – After a nine-year battle, the United States District Court for the District of Columbia ruled today that Russia cannot hide behind immunity from jurisdiction in the enforcement proceedings brought by former Yukos majority shareholders. This ruling brings the majority shareholders a significant step closer to having their record $50 billion Arbitral Awards recognized and enforced in the United States.
London High Court denies Russia immunity in $50 billion Yukos claim
LONDON, NOVEMBER 1, 2023 – The High Court in London today rejected the Russian Federation’s attempt to hide behind state immunity from jurisdiction in the enforcement proceedings brought by the former Yukos majority shareholders. This means the former Yukos majority shareholders are a significant step closer to having the 50-billion-dollar Arbitral Awards recognised and enforced against Russian state assets in England and Wales.
Former Yukos shareholders reject bid at vodka auction
THE HAGUE, DECEMBER 6, 2022 – The former Yukos majority shareholders today rejected a bid of 200.000 euros for the Benelux trademarks of eighteen Russian state-owned vodka brands at an auction in The Netherlands, because the bid didn’t meet their expectations. The former Yukos majority shareholders expect to reschedule the auction for a later date.
Dutch Court clears path for vodka auction in December
THE HAGUE, NOVEMBER 28, 2022 – By rejecting a last-minute appeal by the Russian state enterprise FKP Sojuzplodoimport (FKP), the District Court of The Hague today cleared the path for the scheduled live auction of the Benelux trademarks of eighteen Russian state-owned vodka brands, including Stolichnaya and Moskovskaya, on December 6th in The Netherlands.
$50 billion Yukos awards one step closer to enforcement against Russian state assets
LONDON, OCTOBER 26, 2022 – The High Court in London today lifted the stay on proceedings to have the 50-billion-dollar Arbitral Awards against the Russian Federation for the illegal, politically motivated expropriation of Yukos Oil recognized in England and Wales. This means that the former Yukos majority shareholders can resume their proceedings to have the 50-billion-dollar Arbitral Awards recognised and enforced against Russian state assets located in England and Wales.
Iconic Russian state-owned vodka brands auctioned in December
THE HAGUE, OCTOBER 5, 2022 – The Benelux trademarks of eighteen Russian state-owned vodka brands, including Stolichnaya and Moskovskaya, will be the subject of a live auction on Tuesday December 6th in The Netherlands. The trademarks were seized by the former Yukos majority shareholders to enforce their more than $58 billion damage claim against the Russian Federation for the illegal, politically motivated expropriation of the Russian oil giant in 2003.
Dutch Court approves seizure of iconic vodka brands by former Yukos shareholders to enforce $50 billion Awards against Russian Federation
June 28, 2022 — The Dutch Court of Appeal in The Hague today approved the seizure of the Benelux trademarks of iconic vodka brands Stolichnaya and Moskovskaya by the former Yukos majority shareholders to enforce their $50 billion damage claim against the Russian Federation for the illegal, politically motivated expropriation of the Russian oil giant in 2003.
Yukos shareholders win on all substantive grounds of Russia’s appeal to Dutch Supreme Court and are confident the Court of Appeal will confirm $50 billion Arbitral Awards
November 5, 2021 — The former Yukos majority shareholders today won on all substantive grounds of Russia’s appeal to the Dutch Supreme Court. However, the Dutch Supreme Court decided that certain factual allegations need to be reviewed in full (having been decided previously by the Court of Appeal on purely procedural grounds). Therefore, the Supreme Court has referred the case to the Court of Appeal in Amsterdam, which will review this one limited issue.
Advocate-General advises Dutch Supreme Court to dismiss Russia’s appeal and uphold $50 billion Yukos awards
April 23, 2021 — Today, the Advocate-General of The Netherlands advised the Dutch Supreme Court to dismiss the Russian Federation’s cassation appeal in its entirety and to uphold the 2020 Court of Appeal ruling which reinstated the Arbitral Awards in favour of the former Yukos majority shareholders. The Awards order Russia to compensate the shareholders for the unlawful expropriation of their investment. The compensation amounts to more than $50billion, a measure of the company’s success before it was destroyed.
Supreme Court of The Netherlands hears Russia final attempt to set aside $50 billion awards
February 4, 2021 — On Friday 5 February, the Supreme Court of The Netherlands holds a hearing on the Russian Federation’s appeal against the Court of Appeal judgment reinstating the 2014 Arbitral Awards. The Awards order Russia to compensate the former Yukos majority shareholders for the unlawful expropriation of their investment. The compensation amounts to more than $50 billion, a measure of the company’s success before it was destroyed.
Former Yukos shareholders seize Stolichnaya and Moskovskaya vodka trademarks as part of enforcement of Arbitral Awards against the Russian Federation
May 18, 2020 — 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.
The Hague Court of Appeal reinstates $50+ billion Arbitral Awards in favour of former Yukos majority shareholders
February 18, 2020 — The Hague Court of Appeal in the Netherlands today decided to reinstate 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 on today’s ruling: “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.”
Yukos shareholders aim to reinstate Arbitral Awards against Russian Federation in The Hague
September 23, 2019 — Today at The Hague Court of Appeal, the former majority shareholders of Yukos will argue that the Arbitral Awards ordering the Russian Federation to compensate them for the unlawful expropriation of their investment should be reinstated. The hearing takes place on 23, 24 and 30 September, and is open to the public.
Former Yukos majority shareholders withdraw from enforcement in Belgium
November 2, 2017 — The former majority shareholders decided to withdraw from enforcement proceedings in Belgium after the Brussels Attachments Court released all the attachments of the Russian Federation’s assets. This follows on new Belgian legislation – the so-called ‘Yukos law’ – which was enacted in 2015 by the federal government in response to Russian pressure. The new legislation drastically limits the possibility of attaching further assets belonging the Russian Federation in Belgium. This means it no longer makes economic sense to enforce the 2014 Arbitral Awards in Belgium.
Former Yukos majority shareholders withdraw from enforcement in France
October 10, 2017 — The former majority shareholders decided to withdraw from enforcement proceedings in France after most of the attachments had been lifted by by enforcement judges around the country. GML has concluded that it is economically inefficient to pursue enforcement in France. Today’s decision also took into account new French legislation that came into force in 2017 as part of the ‘Sapin II’ economic reforms. The new legislation drastically limits the possibility of attaching further assets belonging to the Russian Federation in France. The previous French government introduced the new rules in response to pressure from the Russian government.
Former Yukos majority shareholders remain determined to obtain justice following a new decision in the Paris Court of Appeal
June 27, 2017 — The Paris Court of Appeal confirmed that the 2016 decision of The Hague District Court – to set aside the 2014 arbitral awards condemning the Russian Federation to pay the former Yukos majority shareholders $50 billion in compensation – does not affect the recognition and enforcement of these awards in France. The Court has decided to reopen the debates before it, inviting both parties to comment on the possibility of requesting a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty. The parties are required to submit their arguments on this issue by 10 October 20
Former Yukos majority shareholders defend French court’s decision to execute $50 billion award
May 12, 2017 — Today at the Paris Court of Appeal, the majority shareholders of the former Yukos Oil Company argued to sustain a Paris court’s decision of 2014 to recognise and enforce their $50 billion arbitral award against the Russian Federation.
Former Yukos shareholders launch fight in The Hague to restore $50 billion arbitral award against Russian Federation
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.
GML launches appeal of The Hague District Court ruling
July 18, 2016 — GML, through its subsidiaries Hulley Enterprises Limited and Yukos Universal Limited, together with Veteran Petroleum Limited (the former “majority shareholders” of Yukos Oil Company), today issued a Notice of Appeal against the judgment by the District Court in The Hague of 20 April 2016, setting aside the July 2014 Arbitral Awards against the Russian Federation in relation to its expropriation of Yukos Oil Company.
Former majority Yukos shareholders to continue pursuing $50 billion award globally despite Dutch court ruling
April 20, 2016 — The District Court of The Hague allowed the challenge brought by the Russian Federation to the landmark 2014 arbitral award ordering the Russian Federation to pay over $50 billion to the former majority shareholders of Yukos Oil Company. In its decision, the District Court held that the award could not stand on the ground that the Russian Federation was not bound by the provisional application of Article 26 of the Energy Charter Treaty containing the offer to arbitrate, despite Russia having consented to its provisional application pursuant to Article 45 of the Treaty.
Yukos majority shareholders win record compensation from Russia
July 28, 2014 — The former majority shareholders of Yukos Oil Company have won record awards in excess of $50 billion in their expropriation claim against the Russian Federation. The claim – which is the largest in international arbitration history – was brought under the Energy Charter Treaty (ECT). In the decision, an independent arbitral tribunal sitting in The Hague ruled unanimously that the actions of the Russian Federation were politically motivated and constituted expropriation of the majority shareholders’ investment in Yukos.
News articles
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17-06-2024Former Yukos share holders auction Russian vodka brandnames for $1.7 million
AMSTERDAM, June 17 (Reuters) - Former Yukos majority shareholders have auctioned 18 Russian vodka brands for 1.6 million euros ($1.71 million), shareholder group GML announced…
24-04-2024Iconic Russian state-owned vodka brands auctioned June 17th
Eighteen Benelux trademarks owned by the Russian state, including those for the iconic vodka brands Stolichnaya and Moskovskaya, will be the subject of…
26-05-2022Courts should compel law firms to continue to represent Russia
Law firms in Britain and worldwide have announced they intend to drop Russia as a client following the invasion of Ukraine. It’s good PR, but…
19-05-2022Reconstruction of Ukraine with Russian money? It’s possible!
To free up Russian money for Ukraine, the Netherlands can pass a law that focuses on countries that have committed war crimes, explain Tobias Cohen…- 04-03-2022
Tim Osborne reacts to the withdrawal of Houthoff and Albert Jan van den Berg as counsel for the Russian Federation
On March 3rd, 2022, the Amsterdam based law firm Houthoff announced that it was ceasing all work for the Russian Federation. On March 2nd, Albert… 
05-04-2021Emmanuel Gaillard (1952-2021)
GML is deeply saddened by the sudden and unexpected passing of Professor Emmanuel Gaillard on April 1st 2021. To his family, friends and colleagues, we…
24-11-2016How Russia’s state-owned oil company Rosneft manipulated the judicial process in The Netherlands
Journalists from Dutch print daily NRC Handelsblad exposed how Russian state-owned oil company Rosneft manipulated the judicial process in The Netherlands. Rosneft wrote verdicts for…
03-10-2011Vasily Aleksanyan (1971-2011)
We remember Vasily Aleksanyan, who died on 3 October 2011. Russia defied the European Court of Human Rights, detaining Mr. Aleksanyan in horrific conditions and…