Russia's assets abroad cannot be seized if it doesn't comply with ECHR judgment on Yukos - representative

Foreign countries will have no legal opportunity to seize Russia's assets if Moscow does not comply with the European Court of Human Rights' (ECHR) judgment obliging it to pay nearly 2 billion euro in favor of former Yukos shareholders, Georgy Matyushkin, Russia's representative at the ECHR, told Interfax on July 15.

Foreign countries will have no legal opportunity to seize Russia's assets if Moscow does not comply with the European Court of Human Rights' (ECHR) judgment obliging it to pay nearly 2 billion euro in favor of former Yukos shareholders, Georgy Matyushkin, Russia's representative at the ECHR, told Interfax on July 15.

"The European Convention on Human Rights doesn't envision such mechanisms," Matyushkin said.

"From a legal viewpoint, the seizure of assets is impossible," he said.

It would be incorrect to draw a parallel between this judgment and relevant rulings by The Permanent Court of Arbitration in The Hague, as "the seizure of assets under The Hague Court's rulings is envisioned by the New York Convention of 1958 [the Convention on the Recognition and Enforcement of Foreign Arbitral Awards]," Matyushkin said.

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