Updated 3:31 p.m. Moscow Time
MOSCOW, October 9 (RIA Novosti) – Russia will appeal the ruling issued by the European Court for Human Rights (ECHR) by October 30 and will most likely appeal the Hague Court ruling as well, Russian Justice Minister Alexander Konovalov told RIA Novosti Thursday.
"We will certainly [appeal] the ECHR [ruling] before October 30," Konovalov said, adding that the Hague Court ruling "will most likely be appealed as well".
Earlier in July, the ECHR and the Permanent Court of Arbitration in the Hague ruled against Russia in a lawsuit filed by former Yukos shareholders and awarded them a compensation of 1.9 billion euros ($2.4 billion at the current exchange rate) and some $50 billion, respectively.
Yukos, a defunct oil company previously controlled by Mikhail Khodorkovsky, was declared bankrupt by a Moscow court of arbitration back in 2006.
Yukos managers contended that the Russian government had illegally forced the oil company out of business, which allowed Rosneft to snap up its assets and become Russia's largest oil producer.
Yukos founder Mikhail Khodorkovsky spent a decade in prison for fraud and tax evasion until he was pardoned in December 2013.