The Arbitration Court in The Hague considered it possible to conduct a trial on the claim of the former shareholders of YUKOS against the Russian Federation. Former shareholders are demanding about $100 billion for the illegal expropriation of company property.
Thus, the court recognized that although Russia has not yet ratified the Energy Charter Treaty, it is bound by the requirements of this charter. According to the head of Group Menatep Limited, which filed a lawsuit in The Hague, Tim Osborne, Russia, by subjecting Yukos to forced bankruptcy, violated the Treaty. Article 45 of the Energy Charter protects private companies from government expropriation of their assets.