News

Yukos Achieves Historic ECtHR Award

The following statement was published on The Yukos Library:

€1.9 billion ($2.5 billion) is the largest award ever made by ECtHR by a factor of twenty-one times.

Today the European Court of Human Rights (ECtHR) in Strasbourg announced its largest ever award of Just Satisfaction. The award of €1.9 billion ($2.5 billion) to YUKOS Oil Company (YUKOS) is 21 times larger than any previous award made by the ECtHR in its history.

Commenting on the announcement, YUKOS’ former Chief Executive Officer, Steven Theede said: “This is by multiples the largest award that the ECtHR has ever made, although the award is substantially less than the claim submitted by YUKOS. All YUKOS shareholders will benefit from this decision. The pursuit of this case, originally filed in April 2004, was to ensure that YUKOS shareholders obtained recompense for the wrongful acts of the Russian Federation. It has been worth the effort. It is important to remember that in 2004, the ECtHR was the only judicial venue available to YUKOS as a legal entity because it could not seek the protection of international commercial tribunals, open only to investors.”

Bruce Misamore, former Chief Financial Officer said of the ruling: “We are very pleased that the ECtHR has awarded substantial damages for the Russian Federation’s illegal, unfair, hasty enforcement measures, including fines and bailiffs charges, which resulted in the destruction of YUKOS. However, the ECtHR has failed to recognize the true economic losses sustained by YUKOS shareholders. In particular, the judgment says nothing about compensation for the rigged auction of Yuganskneftegaz (YNG), despite the ECtHR’s 2011 ruling that the decision to auction YNG “was capable of dealing a fatal blow to YUKOS’ ability to survive the tax claims and to continue its existence”.”

Continue reading the full statement from shareholders on The Yukos Library.

Posted in Case Updates |

Khodorkovsky Wishes Pichugin Happy Birthday

Dear Alexei,

Yours is the hardest lot of any of us at Yukos. Yet you bear your cross in a more dignified manner than, possibly, many of us could.

I wish you strength and I wish you patience. The situation will definitely change.

Nor is the regime here forever.

Most importantly, hold on to your health.

You are important to all of us.

With profound respect,
Mikhail Khodorkovsky

Posted in Other Developments |

ECHR Issues Ruling on Courtroom Cages

The European Court for Human Rights has upheld the decision against Russia’s use of metal bar cages during the trial of Mikhail Khodorkovsky and Platon Lebedev, according to a report published by RAPSI.

In 2008, two Russian convicts filed an application in which they noted that during the trial they were placed in a cage made out of welded metal bars, installed in the local courthouse. The applicants also contested the ungrounded extension of their trials. In the application they sought to consider their rights under article 3 (prohibition of torture and degrading treatment) and part of article 6 (the right to a fair trial) of the European convention violated.

The responding party (Russia) claimed that keeping the applicants secured in the courthouse what a routine safety measure, and was not devised to harm them in any way.

ECHR reviewed the application and in 2012 ruled that the applicants’ rights were violated and that the use of cages was “degrading,” granting them a 15,000 EUR compensation. The Russian authorities filed a motion to review the case within the Grand Chamber, which confirmed the ruling and granted the convicts a 10,000 EUR compensation each, with 6,000 EUR for litigation fees.

Posted in Case Updates |

Khodorkovsky Expresses Condolences to Victims of Moscow Metro Crash

In response to the tragic Metro crash in Moscow today which killed at least 20 people and injured more than 150, Mikhail Khodorkovsky issued the following statement:

My deep condolences to the families of the deceased and my wishes of the speediest possible recovery for those injured.

I am outraged  by the authorities’ attempt to scapegoat rank-and-file personnel for the tragedy.

Senior management must be held accountable for a situation that involves so many deaths.

At the very least, the head of the Moscow underground transit system (‘Metro’) should have resigned by now.

Mikhail Khodorkovsky

Posted in Other Developments |

Khodorkovsky: Give people a couple of wars, and they will be happy

The following translated coverage of Mikhail Khodorkovsky’s speech at the University of Zurich was originally published on Neftegaz.ru.

Khodorkovsky: Give people a couple of wars, and they will be happy

On June 27, former oil tycoon Mikhail Khodorkovsky spoke at the University of Zurich, where he presented a gloomy picture of the legal situation in Russia and Russian courts.

The main topic of Khodorkovsky’s speech was economic freedom and the role of courts in Russia.

He suggested that the principle formulated by the Spanish dictator Franco works in Russia: “For my friends – everything, for my enemies – the law.”

Khodorkovsky said that the Russian legal system is constantly adapting to the demands of the authorities, and new laws are adopted without prior consultation with experts and stakeholders.

“The judges, in fact, are government officials, who carry out the will of the people from Putin’s circle” – Khodorkovsky said.

“Give bread and circuses to people, or a couple of wars on the outskirts of the country – and they will be happy” – the former head of Yukos said about the support that the Russian government enjoys from in the country’s population.

Interestingly, earlier Khodorkovsky commented that he dreams that Ukraine and Russia could one day be united, but within Europe.

According to the Russian opposition leader Mikhail Khodorkovsky, the greatest political mistake of the new Ukrainian authorities was that they failed to go to the eastern regions to explain why European integration matters.

“We, Ukrainians and Russians, have a similar mentality – if we do not know something, we think about the worst possible option. Therefore, it is necessary to talk to people,” Mikhail Khodorkovsky said.

Khodorkovsky believes that there is no alternative to the European development in a democratic Ukraine, and there is none in Russia.

“My dream is to unite Ukraine and Russia in the framework of the European family,” – the former head of Yukos said.

Earlier it was reported that the former head of Yukos warned EU against sanctions against Russia.

Mikhail Khodorkovsky believes that it makes no sense for the EU to impose additional sanctions against Russia.

According to him, EU sanctions against Russia will only benefit nationalists, who want to isolate Russia from the West.

He noted that Europe needs to focus not on sanctions against Moscow, but on assistance to democratic development in Ukraine.

In late April 2014, Khodorkovsky made ​​a number of statements related to the political crisis in Ukraine’s regions and the response of the world community.

Posted in Other Developments |
 

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