Did Russia Breach the Energy Charter Treaty with YUKOS?
YUKOS' shareholders continue their legal battle against Russia in multiple jurisdictions as the attempt to gain compensation for the company's politically motivated nationalization.
Apart from a claim in the European Court of Human Rights brought by the former managers of YUKOS, there are several other proceedings in international courts and tribunals. The largest of which is the pending arbitration claims in front of a tribunal in The Hague where the former majority shareholders of YUKOS are seeking tens of billions of dollars of compensation. In December, the claimants cleared a major procedural hurdle to get the tribunal to agree that Russia was indeed bound by its signature to the Energy Charter Treaty.
If the tribunal eventually rules in favor of the shareholders, the claimants can bring the verdict to any country where the Russian government (or its state-owned companies) have assets and have the local court redistribute those assets to satisfy the debt.
However, the process could drag on for many years which raises the possibility that a more conciliatory Russian administration could come to power and seek to draw a line under the YUKOS Affair - possibly via a global settlement.