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Paris Appeal Court Upholds Lifting Accounts Freeze Against Russia's Roscosmos

© Sputnik / Igor Russak / Go to the mediabankThe stand of the Russian Federal Space Agency (Roscosmos). (File)
The stand of the Russian Federal Space Agency (Roscosmos). (File) - Sputnik International
The Court of Appeal of Paris ruled in a judgment obtained by Sputnik on Tuesday to uphold the lifting of the accounts freeze against Russia's Roscosmos State Space Corporation in a lawsuit filed by the ex-shareholders of the defunct oil company Yukos.

PARIS (Sputnik) — It notes that Roscosmos, as a separate legal entity, cannot be held liable for Russia's debts.

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In 2016, media reported that France had seized $700 million in Roscosmos and Russian Satellite Communications Company stakes acting on behalf of Yukos’ former shareholders.

"The Court of Appeal of Paris confirmed the lifting of the arrest demanded by Hulley Enterprises and Veteran Petroleum over Arianespace's arrears to Roscosmos [some 300 million euros] as part of the Soyuz carrier rocket launch program from the Guiana space center," the judgment reads.

In July 2014, the Permanent Court of Arbitration (PCA) in the Hague ruled in favor of the former Yukos oil company shareholders and demanded Russia pay them $50 billion. In June 2015, Russian assets were confiscated in France and Belgium based on the PCA’s ruling.

In April 2016, the Hague District Court overturned the verdict of the Permanent Court of Arbitration on the grounds that the case was out of the latter court's jurisdiction.

The assets of Russian state space companies, including of the country's space corporation Roscosmos, have been repeatedly blocked in France, following the former Yukos shareholders' lawsuits. However, the courts have also repeatedly lifted the freezes from such funds.

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