Russia cannot claim immunity in $60 bln fight with former Yukos investors, London court rules

Russia cannot claim state immunity to avoid a nearly $60 billion arbitration award in a case brought by former Yukos investors over the expropriation of the defunct oil group, London's High Court ruled on Wednesday.

Judge Sara Cockerill ruled in favour of three former Yukos shareholders, Hulley Enterprises, Yukos Universal and Veteran Petroleum, on Wednesday.