Hague court of arbitration rules against Russian government in landmark Yukos case.
A court has said that Russia must pay $50 billion to a group of former majority shareholders in defunct Russian oil company Yukos Ltd. - the largest such arbitration decision ever.
Viktor Korotayev / Reuters
The landmark ruling surrounds the confiscation of what was once the country's biggest oil firm, according to Bloomberg Businessweek.
The Permanent Court of Arbitration in The Hague, Netherlands, ruled that Russia must pay nearly half of the $103 billion sum sought by the former owners of the company, plus interest.
The Kremlin dismantled Yukos and expropriated its assets between 2004 and 2007. The company was formerly controlled by Mikhail Khodorkovsky - once Russia's richest man
Sergei Supinsky/AFP/File
Khodorkovsky was imprisoned for over a decade before being freed in December 2013 under an amnesty granted by the Vladimir Putin's governnment.
He claims the charges against him were revenge for his financing of opposition parties - something denied by the Kremlin.
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