The Amsterdam Court of Appeal rejected Russia's complaint and sided with the former shareholders of the Yukos oil company, Ednews reports citing TASS.

According to the ruling published on the court’s website, the decision on Russia’s payment of $50 billion should remain in force.

The Court of Appeal in Amsterdam has concluded that the Russian side's argument about alleged fraud by former Yukos shareholders during arbitration proceedings in The Hague is not capable of overturning compensation decisions.

The court “annuls the decision of April 20, 2016,” within the framework of which the obligations to pay compensation were lifted from the Russian Federation, and “rejects the claims of the Russian Federation.”

The proceedings were initiated by Hulley Enterprises, Yukos Universal and Veteran Petroleum, which are associated with former YUKOS shareholders. International arbitration, created through the mediation of the Permanent Court of Arbitration in The Hague, after 10 years of consideration of the case in 2014, ordered Russia to pay more than $50 billion to three specified companies.

At the end of 2014, the Russian side appealed the verdict. In 2016, the District Court of The Hague sided with the Russian Federation and overturned this decision.