Thursday, October 29, 2015

The Kremlin has promised to respond to the arrest of shares of VGTRK in the Yukos case – RBC

Photo: Mikhail Metzel / TASS

The Kremlin promises to take all necessary measures to protect the legal property of the Russian response to the arrest of shares of VGTRK in the French Euronews SA, which manages the eponymous TV channel. The journalists said the press secretary of the president of Russia Dmitry Peskov, Interfax reported.

Asked about the preventive measures to protect the property, he also said that “taken and will take all necessary measures to protect the interests of the Russian Federation ».

The fact that among Russian assets abroad arrested on claims of former shareholders of Yukos proved owned VGTRK 7.5% stake in Euronews, RBC reported on the eve of a federal official and confirmed the press service of VGTRK.

A source close to the French company, earlier told RBC that the arrest of the shares does not affect the operation of Euronews and VGTRK. According to the partner of the law firm King & amp; Spalding Ilya Rachkova, seizure of assets at least means you can not dispose of these shares. The rest, he said, depends on the decision of the court: arrest may also mean the prohibition to transfer the shares as collateral, they vote, receive dividends on them, and so on.

In 2001, the holding company VGTRK has acquired 1.8% stake Euronews. Then the “Kommersant” a deal valued at $ 250 thousand. In the same year in Russia began airing programs of the French television channel. After three years, the share of RTR in Euronews has grown to 16%. According to “Kommersant”, is a holding company spent about € 3,5 Mill. Spread Euronews programs in Russia is engaged in a special structure RTR – European broadcaster.

On Friday, October 23, the State Duma adopted a law that It allows you to take action in response to the arrest of Russian property abroad. It reviewed the principles of absolute immunity guaranteed by the property of foreign states on the territory of Russia. In particular, the court is allowed to limit the jurisdictional immunity of foreign states on the basis of reciprocity. These are the cases where the foreign partner provides immunity Russia in a more limited scope than that of the Russian Federation guarantees to it.

In the summer of 2014 the arbitral tribunal at The Hague ordered Russia to pay $ 50 billion to the former shareholders of Yukos. Moscow has not agreed to this decision and refused to perform it.

Last summer abroad began the arrest of Russian state assets in the framework of implementation of the decision of the court in The Hague. In early June, provisional measures were imposed by the authorities of Belgium. Almost at the same time in Paris was arrested building FSUE “Goszagransobstvennost” Office of the President of Russia, where leased premises MIA “Russia Today”. In France and Belgium were also arrested bills agency.

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