Yukos Oil went bankrupt in 2006 after its former chief Mikhail Khodorkovsky fell out with Vladimir Putin.
The verdict is the latest stage in a protracted legal battle, with Russia’s Justice Ministry saying in a reaction it would appeal at the Dutch Supreme Court. Most of Yukos’ assets were absorbed by the Kremlin’s flagship oil producer Rosneft, and its former owners have for years been trying to recover their possessions.
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