Political Quotes

“on several occasions I have risen to address my colleagues on the topic of Russia and the continuing sad state of the rule of law in the Russian Federation. Today, I rise once again to address the latest information regarding the absence of a rule-of-law framework in Russia's approach to businesses and investors. Specifically, this situation negatively impacts the United States and the entire international community. There have been a number of poor decisions around the world related to the Yukos Oil issue that highlight Russia's hostility toward investment and business. As my colleagues may be aware, GML, the majority shareholder of the former Yukos Oil, previously headed by businessman and now political prisoner Mikhail Hoarders, has a $100 billion arbitration claim against the Russian Federation to obtain compensation for the Yukos assets which were summarily taken between 2003 and 2005. Several recent developments demonstrate yet again that international courts do not recognize Russia's 2003 expropriation of Yukos Oil Company as legitimate and that former stakeholders of the company may pursue compensation for their assets that were seized improperly and, in essence, nationalized by the Russian State. Court victories handed to shareholders involved in the dispute indicate that the international legal system will not recognize the validity of Russia's bankruptcy of Yukos.…”