Dutch appeals court reinstates $50 billion award for Yukos shareholders

A Dutch appeals court on Tuesday overturned a lower court's annulment of a $50 billion award to shareholders in the now-defunct Russian oil giant Yukos.

In April 2016, The Hague's District Court had overturned a decision by the Permanent Court of Arbitration ordering the Russian state to compensate shareholders in the company once owned by fallen oligarch Mikhail Khodorkovsky.

Tuesday's decision can be appealed to the Dutch Supreme Court.