Russia cannot claim state immunity to avoid the enforcement of a $60 billion arbitration award over the expropriation of defunct oil group Yukos, London's High Court has ruled. The decision removes one obstacle for three former Yukos shareholders -- Hulley Enterprises, Yukos Universal, and Veteran Petroleum -- in their fight to enforce the 2014 award. The companies were awarded just over $50 billion in 2014 by an arbitration tribunal in The Hague, which found that Russia carried out a "devious and calculated expropriation" of Yukos after its former owner, Mikhail Khodorkovsky, was jailed.
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