Russia contests Hague court Yukos ruling for lack of competence

THE HAGUE, Netherlands, Feb 9 (PRIME) -- The Hague arbitration court has no competence to judge the case of former shareholders of defunct oil company Yukos against the Russian government, lawyer representing Moscow Albert Jan van den Berg said during a court hearing Tuesday.

The District Court of the Hague is considering Russia’s appeal against an earlier decision of the Permanent Court of Arbitration that the Russian government must pay U.S. $50 billion compensation to Group Menatep Limited, which unites former Yukos owners.

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