ECtHR’s Largest Ever Award of Compensation – Yukos v. Russia

01 Aug 2014 | by Caroline Sweeney

In this landmark decision on just satisfaction the European Court of Human Rights made, by far, its largest ever award for pecuniary loss, ordering Russia to pay in the region of 1.9 billion Euros in compensation to shareholders of Yukos, the former Russian energy giant which ceased trading following tax proceedings taken against it by the Russian authorities. The Court made awards in respect of the unlawful imposition of penalties on the company (c. 1.3 Billion Euros) and unlawful interference with its rights under Article 1, Protocol 1 of the Convention on account of the enforcement proceedings taken against Yukos (c. 0.6 Billion Euros).

Piers Gardner acted for the applicant company throughout this case (2004-14) including during the six years since Yukos was liquidated and struck from the register of companies in Russia

Here is the full Yukos v Russia Judgment

Here is further comment on the case by the European Journal of International Law