Supreme Court of the Netherlands accepted Russia’s complaint in Yukos case
The Hague. The Supreme Court of the Netherlands accepted Russia’s complaint against the decision of the Hague Court of Appeal in the Yukos oil company case, official spokesperson of the Court Thea Tjeerdema told TASS on Monday.
"It is correct that the appeal in cassation has been declared admissible," the spokesperson said. The Supreme Court of the Netherlands has an option to reject cases if the appeal in cassation does not meet specific requirements but the Court did not find grounds for the rejection in this specific case, Tjeerdema said. "This means the substantive procedure has now started with the administrative preliminary phase (written exchange of documents)," she added.
Consideration of the Russian cassation appeal in the Yukos case would take about 9-12 months, Tjeerdema told TASS earlier.
In 2014, after ten years of consideration of the case, the international arbitration, established through the Permanent Court of Arbitration in The Hague, obliged Russia to pay more than $50 billion to companies associated with former shareholders of Yukos oil company: Yukos Universal, Hulley Enterprises and Veteran Petroleum.
The judges found that the actions of the Russian Federation with respect to Yukos violated the agreement to the Energy Charter, which the country signed, but did not ratify. The Russian side appealed that certain provisions of the document could not be applied to the Russian Federation without following the ratification procedure.
This verdict was appealed to the Hague District Court, which sided with the Russian Federation, recognizing the decisions of the Permanent Court of Arbitration in The Hague as invalid and lifting Russia’s obligation to pay more than $50 bln. However, a higher court, The Hague Court of Appeal, overturned the district court's verdict in February this year and reinstated the arbitral awards.
The Russian side later filed a cassation appeal with the Dutch Supreme Court demanding that the decision of the Hague Court of Appeal be annulled.