The court will begin hearing the suit of company GML on 17 November.

Izbrannoe, 23.09.2008

The main shareholder in Yukos, the company GML, registered in Britain, intends claiming 23 billion Euros from the Russian government for the plan executed by the Russian authorities for the company’s forced bankruptcy. RIA Novosti reports on this with links to the internet newspaper EUobserver.

As head of GML Tim Osborne claims, in subjecting Yukos to forced bankruptcy the Russian authorities violated the main international energy pact, the Energy Charter Treaty. Despite the fact that Russia signed but did not ratify the treaty, Osborne claims that it is legally binding for Russia. His words are cited in an article for EUobserver.com.

For reference

Signed in December 1994 following three years of intensive negotiations, the Energy Charter Treaty unites 49 states, including all the countries of the former Soviet Union, countries in Central and Eastern Europe, Japan, Australia and the European Union with all its member states.

The treaty covers trade, defence of investments and transit rules as well as mandatory procedures for multilateral conflict resolution. Russia signed the Charter but did not ratify it.