Lavrov Says Russia May Appeal Yukos Ruling

July 28, 2014 — 11:42

Russian Foreign Minister Sergei Lavrov said on Monday that Moscow could launch an appeal if the Hague's arbitration court rules in favor of a group of shareholders in defunct oil giant Yukos against Russia.

Shortly after his statements, the Permanent Court of Arbitration in The Hague ruled in favor of shareholders in defunct Russian oil giant Yukos, ordering Moscow to pay roughly $50 billion in damages.

"I heard this morning reports that such a verdict is expected," Lavrov told a news conference, saying he would wait for the ruling to be made before commenting.

Lavrov said legal formalities in the case had not been completed, including the right of appeal. "The Russian side, those agencies which represent Russia in this process, will no doubt use all available legal possibilities to defend its position," Lavrov said.

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