Veteran Petroleum Limited v. Russian Federation, PCA Case No. AA 228

  • >Claimant : Veteran Petroleum Limited
  • >Nationality : Cyprus
  • >Respondent : Russian Federation
  • >Procedural rules applied : UNCITRAL (PCA)
  • >Chair : Yves Fortier
  • >Arbitrator appointed by Claimant : Charles Poncet
  • >Arbitrator appointed by Respondent : Stephen Schwebel
  • >Invoked instruments : ECT
  • >Articles mentioned : Article 21 (1)
  • , Article 26 (1)
  • , Article 26 (6)
  • , Article 26 (8)
  • , Article 21 (7)
  • , Article 21 (5)
  • , Article 17 (1)
  • , Article 10 (7)
  • , Article 10 (3)
  • , Article 10 (1)
  • , Article 1 (2)
  • , Article 1 (6)
  • , Article 1 (7)
  • , Article 13
  • , Article 32
  • , Article 39
  • , Article 45
  • >Breaches alleged :  
  • >Breaches found :(13.1) Indirect expropriation
  • >Case status : Award rendered
  • >Year of the award or agreement : 2014
  • >Follow-on proceedings : Pending national court decision on annulment
  • >Year of registration : 2005

  • >Subject matter of the dispute: Claims arising out of the Government’s alleged illegal expropriation of claimant’s investments in Yukos Oil Company
  • >Amount claimed: USD 114,174 billion (Yukos Universal Limited v. Russian Federation, Hulley Enterprises Limited v. Russian Federation, and Veteran Petroleum Limited v. Russian Federation combined)
  • >Amount awarded: USD 8,203,032,751
  • >Costs of arbitration: EUR 695,327
  • >Award legal costs: Claimant was awarded USD 9,839,533
  • >Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISIONS

30 November 2009 

Interim Award on Jurisdiction and Admissibility

18 July 2014

Final Award        

ANNULMENT PROCEEDINGS

ENFORCEMENT PROCEEDINGS (Belgium - France - United States)

Belgium:

24 June 2016 - Decision of Antwerp Court of First Instance

9 December 2016 - Judgment of the Brussels Francophone Court of First Instance

27 April 2017 - Decision of Belgian Consitutionnal Court

20 February 2018 -Decision Brussels Court Appeal on Enforcement I

20 February 2018 - Decision Brussels Court Appeal on Enforcement II


France:

10 February 2017 - Decision of the Tribunal of Grande Instance d'Ivry


United States:

30 September 2016 - Memorandum Opinion of the United States District Court for the District of Columbia

18 August 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia

9 December 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia


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