Who Is Mikhail Khodorkovsky? Dutch Court Orders Russia To Pay $50B To Former Tycoon
Russia plans to appeal against the Dutch appeals court order
Khodorkovsky amassed wealth during the post-Soviet days of frenzied privatization
Khodorkovsky's funding of opposition parties believed to have riled Putin
A Dutch appeals court order upholding an international arbitration award asking Russia to pay the shareholders of Moscow-based former oil giant Yukos $50 billion in compensation is seen as a blow to Russian President Vladimir Putin. The court order that upturned a Hague district courtâs decision annulling the tribunal decision brings back to focus the chequered career of oil baron Mikhail Khodorkovsky, who fell foul of Putin and went to jail.
The case arose after Yukos was declared bankrupt and merged with the state-controlled Rosneft following tax evasion charges amounting to $27 billion in 2006. As Yukos chief executive, Khodorkovsky, who Forbes magazine once called the worldâs 16th richest man, landed in jail. He was incarcerated for 10 years on charges of tax evasion and theft until Putin granted him clemency in 2003.
Meteoric rise during Boris Yeltsinâs privatization drive
Putin granted Khodorkovsry clemency on the ground of mother's illness, following which he flew to Germany where he vowed to stay out of politics. He said he would not return to Russia unless he was sure he would be a free person.
The appeals court order of Feb. 18 overturned a 2016 ruling by a Hague district court that canceled the compensation order on the grounds that the Permanent Court of Arbitration lacked the jurisdiction as the case was based on an energy treaty that Russia had signed but not ratified, according to a report on Radio Free Europe website. Russia's Justice Ministry said it will appeal the appellate courtâs decision, which ruled that the 2016 decision quashing the arbitration decision âwas not correct." The arbitration tribunal had ruled that Moscow seized Yukos control in 2003 by saddling the company with massive tax claims.
https://www.ibtimes.com/who-mikhail-khodorkovsky-dutch-court-orders-russia-pay-50b-former-tycoon-2924861