Latest development Oct 5, 2026
The D.D.C. ordered the parties to show cause on staying the case until the D.C. Circuit rules in Yukos Capital. Briefing ran from October 16 to 26, 2026.
The award
- Amount awarded
- $50.02B (three awards)
- Current estimate
- More than $65B with interest (GML, October 2025)
- Award holder
- Hulley Enterprises, Yukos Universal and Veteran Petroleum, former majority shareholders of Yukos (GML Ltd)
- Respondent
- Russian Federation
- Forum
- PCA AA 226–228 · ECT · UNCITRAL · seat The Hague
Challenges
The Dutch set-aside proceedings have ended. After a Supreme Court remand on November 5, 2021, the Amsterdam Court of Appeal rejected Russia’s fraud ground on February 20, 2024, and the Supreme Court dismissed Russia’s last appeal on October 17, 2025.
Enforcement
England: the Court of Appeal held that issue estoppel defeats Russia’s immunity plea ([2025] EWCA Civ 108), the UK Supreme Court refused permission to appeal on June 27, 2025, and the High Court recognized the awards and rejected Russia’s fraud defense on March 2, 2026. United States: the D.C. Circuit vacated and remanded the D.D.C. case (14-cv-1996) on August 5, 2025. Netherlands: the Stolichnaya and Moskovskaya trademarks were auctioned in June 2024.
Recovered to date
About €1.6M (trademark auction)
Notes
Status of proceedings in Luxembourg and Singapore not verified.