Shareholders in the now defunct Russian oil giant Yukos have seized Netherlands-based assets of two well-known vodka brands controlled by the Russian state in their most recent legal move to obtain $57 billion in damages from Moscow.
On February 18, The Hague Court of Appeal reinstated an order of the Permanent Court of Arbitration, which obliged Russia to pay more than $50 bln to the companies associated with former Yukos shareholders in 2014.
On 5 May 2020, 23 Member States of the EU entered into an Agreement for the Termination of Bilateral Investment Treaties between the Member States of the European Union.
We call on the world community for an immediate moratorium on all arbitration claims by private corporations against governments using international investment treaties.