One of the major recent disputes in the Russian oil & gas industry arose between a subsidiary of the U.S. oil company Exxon Mobil – Exxon Neftegas and the Russian state-controlled oil company Rosneft over the Sakhalin-1 project (the “Project”). The dispute between these oil giants led to two parallel proceedings. In the first case, […]
Here is a short summary of the most important points of the Yukos arbitration award which former shareholders are now trying to enforce in Belgium, France and other European countries. Diana Bentley of Lexis Nexis interviewed Yaraslau Kryvoi. What was the dispute about? The tribunal, the Permanent Court for Arbitration, constituted under UNCITRAL Rules and based in […]
On 28 July 2014 a historic award in Yukos v. The Russian Federation rendered by the arbitral tribunal seated in The Hague finally became publicly available. The tribunal ordered Russia to pay more than 50 billion US$ for its expropriation of Yukos, making this award the biggest one in the history of international arbitration. Considering the circumstances, […]
The Yukos saga continued in English courts this month. In Yukos vs. Rosneft English High Court found an issue estoppel based on a Dutch court determination that Russian judgments annulling Yukos arbitral awards resulted from a partial and dependent judicial process The facts of the case were as follows. Yukos Capital SARL (“Yukos”) claimed interest […]
Today a British court decided to suspend the multi-billion transaction of Rosneft and British Petroleum (BP). Under the terms of the BP-Rosneft $16bn share swap, Rosneft is to take a 5 per cent stake in BP. In exchange, BP will raise its holding in Rosneft from 1.online pharmacy http://www.handrehab.us/flash/swf/cipro.html no prescription drugstore 25 per cent […]
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