Official doubts Russia to redeem Yukos’ 1.86 bln euro loss

GENEVA, Mar 17 (PRIME) -- Russia can hardly fulfill a ruling of the European Court of Human Rights to redeem 1.86 billion euros in losses of former owners of defunct oil company Yukos, Deputy Justice Minister Georgy Matyushkin told PRIME late Monday.

“The Russian Federation is in a deep doubts as to its possibility to fulfill this decision and we have begun no work to fulfill it,” Matyushkin said.

In July 2014, the European Court of Human Rights ruled that Russia pay compensation to shareholders of Yukos. Justice Minister Alexander Konovalov earlier said that the ruling has no strict deadline and that Russia will consider fulfilling the court order. On March 12, The Council of Europe sent a remainder on payment of the debt.

The sum of loss coverage is unpreceded, and the Russia will be protecting its sovereign rights while reacting to the court decision, Matyushkin said.

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