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23 September 2017
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Belgian court orders arrest of all Russian property at request of Yukos

All Russian state establishments in Belgium, except for those protected by diplomatic immunity, have been notified of the arrest of their property, Ukrainian online newspaper RBK-Ukraine reported on Wednesday, with reference to the Russian media.

REUTERS
REUTERS

Oil company OJSC Yukos Universal Limited has demanded the arrest of the property, as it "has serious concerns about the possibility of receiving payments due, in particular, because of the systematic failure of the Russian Federation to fulfill judgments handed down against it, and taking into account the attitude of the Russian Federation to the [court] decision."

The claimed amount is about EUR 1.6 billion. The arrest of property follows from a ruling of the Belgian Court of Arbitration of July 18, 2014.

The grounds for the arrest come from a decision of the European Court of Human Rights, according to which Russia should pay former shareholders of Yukos EUR 1.86 billion.

As UNIAN reported earlier, the European Court of Human Rights (ECHR) ordered Russia to pay Yukos EUR 1.86 billion in compensation for violations of the right to property committed against the company. The ECHR also decided to pay Yukos another EUR 300,000 for the reimbursement of costs.

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