Yukos Shareholders May Seek $65 Billion In Compensation From Russia
7- 3.03.2026, 9:41
- 6,004
The decision was made by the High Court of London.
The decision of the arbitration court in The Hague, which implies that Russia should pay more than $65 billion (about 56 billion euros) in compensation to the ex-investors of the Yukos oil company, is fair. Former Yukos investors can seek its enforcement in the UK, the London High Court ruled on Monday, March 2, reports German Wave.
The case in question is the Yukos judgment handed down by the Permanent Court of Arbitration in The Hague in 2014. At that time, the court concluded that the nationalization of the company, carried out after the arrest of its largest shareholder, Mikhail Khodorkovsky, was illegal, and ordered Russia to pay compensation to the former shareholders. Initially, it was about $50 billion. By now, interest and penalties have increased the amount to almost 65 billion.
The interests of former Yukos shareholders are represented by three companies - Hulley Enterprises, Veteran Petroleum and Yukos Universal. Their beneficiaries are not officially disclosed. According to the Russian side, behind them are Leonid Nevzlin, Mikhail Brudno and Vladimir Dubov, who together owned about 70% of Yukos. Mikhail Khodorkovsky said he is not participating in the process and did not take part in it.
Russia's attempts to challenge the decision on compensation for ex-Yukos shareholders
Russia has repeatedly tried to challenge the court's decision in The Hague - not on the merits of the dispute (lawyers have found no grounds for that), but citing various violations that the Russian Federation believes the plaintiffs and their representatives committed.
In mid-2025, the Dutch Supreme Court rejected the Russian side's cassation appeal, approving a ruling by the Amsterdam Court of Appeal to pay compensation of about $65 billion.
At the same time, observers believe it is unlikely that Russia will fulfill the court's decision. Back in 2020, the Russian Constitutional Court authorized the Russian government not to execute the decisions of international instances.
$1.7 million in compensation for vodka brands
That same year, in 2020, GLM, which represents former Yukos shareholders in court, secured the seizure of 18 trademarks of the Russian state-owned company Soyuzplodoimport, including the vodka brands Stolichnaya and Moskovskaya - in the Benelux countries (in other markets the right holder of these brands is Luxembourg-based SPI Group of businessman Yuri Shefler). In 2024, the seized brands were sold at auction, and former Yukos shareholders received about $1.7 million.
Yukos underwent forced bankruptcy proceedings in Russia in 2006 - after Mikhail Khodorkovsky became a defendant in a criminal case of embezzlement and non-payment of taxes. Most of the company's assets were taken over by state-owned Rosneft.
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