WASHINGTON (Pakistan Point News / Sputnik - 14th April, 2022) The US District Court for the District of Columbia said it had denied the Russian motion to stay a $50 billion Yukos oil company case .
"The Russian Federation's motion to stay... is denied," the court said in the verdict.
According to the court, there has already been a significant delay in the consideration of the case and, moreover, the sanctions imposed on Russia would undermine the ability of ex-Yukos shareholders to gain access to the Russian assets in the United States in case of a decision made in their favor.
The court said that Russia must present new information in its favor no later than on April 27, 2022, while the ex-Yukos shareholders no later than on May 11, 2022.
In 2014, the Hague Court of Appeal made Russia pay $50 billion in favor to the ex-Yukos shareholders. In April 2016, the verdict was reversed but in February 2020, Russia was made to pay money again. In 2021, the Dutch Supreme Court once again returned the case to the Amsterdam Court of Appeal.
Russia wants the US court to suspend the proceedings until the verdict in the Netherlands.
