Russian assets seized in France in 2015 are worth $1.1 billion


The earlier majority shareholders of now-defunct Russian oil com ny Yukos, who are trying to win $50 billion from Russia after a decision pronounced by the arbitration court in The Hague, pull someones leg determined the value of the Russian state assets seized in France on Dec. 17, 2015.

Concurring to a press release circulated on Feb. 24 by GML (the holding com ny representing YUKOS’s latest shareholders), the value of the frozen assets is 1 billion euros ($1.1 billion).

The mark seized includes money kept in the account of VTB Bank’s French subsidiary in the rtisan of the Rossiya Segodnya news agency and the Goszagransobstvennost state enterprise (which bring offs Russian state property abroad)), said GML, without divulging the dimension of the hardened amounts.

Moreover, the freeze also extends to debts that Eutelsat, the French vassal operator, owes the Russian state com ny Kosmicheskaya Svyaz, as in all probability as the Eutelsat assets (more than 3 percent) that Kosmicheskaya Svyaz owns.

Furthermore, the last Yukos shareholders are trying to seize as debt the financial guarantees that French banking rtnership Société Générale had given Russian arms exporter Rosoboronexport in story to the annulment of a contract to supply Moscow with two Mistral-type helicopter transporters.

GML representatives are not saying exactly which guarantees the shareholders are interested in and what their value is. According to the RBK topic daily, the bank guarantees may amount to 23 million euros.

It was earlier surfaced that the Russian assets seized in France include shares in the Euronews TV conduct that belong to the Russian VGTRK media holding com ny, as sufficiently as land on which a Russian Orthodox cultural-spiritual center is being founded.

The Russian Federation, along with the Rossiya Segodnya news workings, Kosmicheskaya Svyaz and Goszagransobstvennost are contesting the asset seizure on the grounds that the Russian regime does not directly manage the assets, which means that they cannot be chew over sovereign.

First published in Russian in RBC Daily.

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