Court Rejects Appeal made by Former Yukos Shareholders to Suspend Construction of Orthodox Center in Paris
A French Court rejected an appeal made by former Yukos shareholders to suspend the construction of an Orthodox Center in Paris. This plot of land belongs to the Presidential Property Management Department of the Russian Federation. The plot is almost 5,000 square metres, and is located near the Eiffel Tower.
However, the Court rejected the appeal of the former Yukos shareholders, explaining that this plot is protected by diplomatic immunity. On the 22nd of January, the Collegiate Council chaired by the first Vice-Chairman of the Paris Court upheld this decision.
RBK noted that the construction of a religious and cultural Orthodox Center in Paris began in April of 2015. The Presidential Property Management Department of the Russian Federation stated that construction would be completed by the middle of 2016. According to the newspaper, the cost of the project is 160 million euros and is financed by the federal budget of Russia.
The seizures of Russian property in France and other Western countries began after a decision by the International Court of Justice in The Hague, indicating that Russia was obligated to pay $50 billion in compensation to the former shareholders of Yukos. Moscow refuses to implement the decision of the court.