Permanent Court of Arbitration

The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $50 billion in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd said in London on Monday.
      

A Hague-based court of arbitration ruled Monday that former majority shareholders of once-thriving oil concern Yukos should be awarded USD 50 B of damages.

According to the Permanent Court of Arbitration in The Hague, Moscow is to pay nearly half of the sum claimed by former owners, the Financial Times reported.

Hearings at the Hague-based court for the resolution of international disputes began on Monday with Croatia presenting its case, as Zagreb and Ljubljana attempted to settle a dispute that has continued since they both became independent from the former Yugoslavia.

BELGRADE - The Republic of Serbia got a national chair in the Permanent Court of Arbitration with the seat in the Peace Palace in The Hague, which is a special honour for the country.