Russian Constitutional Court frees Russia from paying €1.9 billion to Yukos shareholders

yukos_no_pay

On Thursday, January 19, the Constitutional Court of the Russian Federation announced the decision regarding the case of Yukos.

Thus, the Court considered it impossible to fulfill the decision of the European Court of Human Rights (ECHR) from July 31 2014, as it “contradicts the Constitution of the Russian Federation”: in other words, the court allowed the Russian authorities not to pay €1.9 billion to former shareholders of Yukos.

At the same time, the chairman of the Constitutional Court Valery Zorkin said that Russia does not refuse from the obligation to fulfill decisions of the Strasbourg Court, but will implement only those decisions that do not contradict its Constitution, reports RIA Novosti.

On July 31, 2014, the ECHR ordered Russia to pay former shareholders of Yukos compensation in the amount of €1.9 billion for the alleged violation of their rights to protection and a fair trial. Later, the Ministry of Justice sent a request to the Constitutional Court whether such payments can be made.

Source: KP