Russia Is Now 'At War' With Europe's Courts

Linda Kinstler, Politico: Yukos shareholders declare war on Russia’s assets

Properties in France, Belgium, the U.S. and the U.K. will be seized in the $50 billion suit.

Belgian and French authorities have moved to seize Russian assets in connection with a lawsuit brought by the former majority owner of Yukos Oil Company, which won a $50 billion claim against the Russian Federation last year.

The assets are the first to be publicly identified in the suit, which could eventually ensnare properties belonging to Russian state-owned companies like Gazprom, Rosneft, and RT.

The Hague court ruled last July that Russia must pay $50 billion to GML Ltd to compensate for dissolving Yukos. Russia has since petitioned the court to annul that ruling, and missed a January deadline to pay the full sum. The Kremlin said Thursday that it was examining the Belgian claims.

“Russia hasn’t paid us, interestingly, so we are left with the prospect of enforcing it,” said Tim Osborne, executive director of GML.

Update: Russian fury at Belgium asset seizure in Yukos oil case -- BBC

WNU Editor: I have very little sympathy for those who are fighting this case .... and much of the Russian public have nothing but contempt for what is happening here. Yukos .... like many major Russian corporations that were formed and put together after the fall of the Soviet Union .... were built on bribes, pay-offs, threats. and outright thievery. But the law is the law, and Russia is a signatory to international agreements that covers such issues .... even though they may not like some of its rulings. I do expect all parties will come to an agreement in the future .... but it is going to be a bitter pill to swallow.