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English Court greenlights determination of Russia’s state immunity objections to Yukos enforcement proceedings

Photo by Andy Holmes / Unsplash

Yesterday, the Commercial Court in London partially lifted the stay it had previously placed on the proceedings by former Yukos Oil Company shareholders – Hulley Enterprises, Yukos Universal and Veteran Petroleum – to enforce the US$50 billion arbitration awards the Permanent Court of Arbitration made in their favour in 2014. The arbitration proceedings were based on claims that Russia had unlawfully expropriated Yukos’ assets.

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