16:53 Sep. 28, 2016
Two more lawsuits against Moscow still remain, demanding a USD 10 billion compensation
Dutch FPH (Financial Performance Holdings), affiliated with the former Yukos oil company, has decided to withdraw its multibillion lawsuit against Russia in Hague. This is according to Russian news agency RBC.
FPH is one of the three companies, affiliated with Yukos, that decided to pursue their interests in court against Russia back in 2013-2014. The other two are Yukos Capital from Luxemburg and Luxtona from Cyprus.
The remaining lawsuits are still looking to receive a USD 10 billion compensation.
In 2007, once the biggest Russian oil company Yukos went bankrupt and its assets were sold off. Afterwards, several investment funds filed a lawsuit with the Stockholm arbitration court, claiming Russia is obliged to compensate for their investments following the alleged expropriation of Yukos by the Russian state.