Russia Loses YUKOS Case in Stockholm

The Arbitration Institute of the Stockholm Chamber of Commerce awarded $3.5 million against Russia in a suit filed by a UK minority shareholder of YUKOS under a UK-Russia investment protection treaty. The shareholder, RosinvestCo UK Ltd (apparently associated with a large US-based investment fund), alleged that Russia “nationalized” YUKOS without proper compensation to UK investors in breach of the treaty. Russia appealed to a Stockholm state court challenging the arbitration award on procedural grounds, and that appeal remains pending. The case may become de facto precedent for further minority shareholder claims.

http://www.vedomosti.ru/newspaper/article/252350/yukos_zhertva_gosudarstva