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France Seizes $700M of Money Owed to Russian Companies Over Yukos Lawsuit

France seized $700 million in payments to Russian space companies Roscosmos and Russian Satellite Communications in tie with a box of former shareholders of gone oil association Yukos, The American Lawyer repository reported Monday.

In total, France has seized Russian resources value $1 billion following a Kremlin’s refusal to compensate indemnification to former Yukos shareholders.

In Jul 2014, The Hague general settlement justice ruled that Russia contingency compensate $50 billion for expropriating a resources of Yukos.

The seized resources embody $400 million due by French-based satellite provider Eutelsat to a Russian Satellite Communications association and $300 million owned by French space launch provider Arianespace to Russia’s Roscosmos space agency, a repository reported, citing a Shearman Sterling authorised organisation that represents a Yukos shareholders.

A deputy of GML — that owns a Hulley Enterprises and Yukos Universal companies that won a lawsuit opposite Russia — reliable to a RBC journal that a seized resources are associated to Roscosmos and Satellite Communications.

However, he didn’t endorse a total cited by The American Lawyer.

According to GML’s representative, Russia has appealed a seizure of income due to Roscosmos and Satellite Communications in French courts. Rulings are approaching this month.

Article source: http://www.themoscowtimes.com/article/565364.html