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.
The former Yukos majority shareholders are enforcing the Arbitral Awards, which order the Russian Federation to compensate them for the unlawful expropriation of their investment in Yukos Oil Company. In 2014, an independent, international Arbitral Tribunal awarded compensation of more than $50 billion to the shareholders. In February 2020, The Hague Court of Appeal upheld the Arbitral Awards. Following that judgment, The Hague District Court granted the exequatur orders allowing the enforcement of the Arbitral Awards in The Netherlands.
Tim Osborne, Chief Executive of GML, said: “As long as the Russian Federation defies the international courts that have found it liable, we will seize Russian state assets in accordance with the law. The attachment of the trademarks in The Netherlands is just the start.”