LONDON (AP) â An international court on Monday ordered Russia to pay over $50 billion in compensation to the former majority shareholder of now-defunct oil producer Yukos over the expropriation of the company more than 10 years ago.
Student survivors of South Korea's ferry disaster testified at the murder trial of the captain and crew on Monday how they were left to fend for themselves in the sinking vessel. One recalled orders for her and her classmates to stay put being relayed "over and over," until the ferry had listed so far that the door to their cabin was above their heads. Another described watching a wave sweep her classmates back inside the sinking boat. Police cordons blocked public access to the district court as the students -- all from Ansan's Dawon High School -- arrived in a red mini-bus and were escorted into the building by a tight phalanx of police officers.
Russia has been ordered by an arbitration court in The Hague to pay shareholders of Yukos a record $50 billion in compensation over its seizure of the one-time oil giant, lawyers for the main claimant said on Monday. The Permanent Court of Arbitration ruled that Russia forced Yukos, formerly owned by ex-tycoon and Kremlin critic Mikhail Khodorkovsky, into bankruptcy with excessive tax claims and sold its assets to state-owned businesses. "The tribunal specifically and unanimously confirmed that the attacks by the Russian Federation on the Yukos oil company ... were politically motivated," Tim Osborne, executive director of GML Ltd, the main shareholder, told a news conference in London.