Russia Seeks to Block $60 Billion Yukos Award and Faces $13.8 Billion Lawsuit in UK

Russia has made moves to block former Yukos Oil investors from enforcing an arbitration award of nearly $60 billion, urging a London appeals court to reconsider its claim to state immunity. In a separate case, a billionaire sanctioned for his ties to Roman Abramovich has appealed to Britain's highest court to lift sanctions, which could impact the government's financial measures against Russia following its invasion of Ukraine. Additionally, a Russian businessman is contesting the detention of his yacht in London, arguing that the seizure would not effectively pressure the Kremlin. In another legal development, private equity firm TPG, along with Russian state-run companies Transneft PJSC and Rosatom, successfully obtained a UK ruling to dismiss a $13.8 billion lawsuit from a jailed Russian tycoon regarding control over a key port operator. Furthermore, a complaint has been filed to recover nearly $44 million in interest from Citibank, which was blocked after Russia's invasion of Ukraine in February 2022.