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

  • >Claimant : Veteran Petroleum Trust
  • >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: 114.174 billion USD
  • >Amount awarded: 8,203,032,751 USD
  • >Costs of arbitration: 695,327 EUR
  • >Award legal costs: Claimant was awarded 9,839,533 USD
  • >Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISIONS

 

ANNULMENT PROCEEDINGS

  • Currently, the Court of Appeal of The Hague is considering whether to reinstate the award.

     

    ENFORCEMENT PROCEEDINGS (Belgium - France - United States)


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