A court in the Hague has done more to hurt Russia's economy than all the Ukraine-related sanctions put together.
The Permanent Court of Arbitration ruled that Russia must pay $50.02 billion to the shareholders of the oil company Yukos, which was dismantled by President Vladimir Putin's government beginning in 2004. The ruling is a reminder that Putin was no different a decade ago from the man who recently seized Crimea from Ukraine and continues to foment separatist unrest in that nation.
There is a measure of poetic justice in the decision. Although published today, it was handed down in the Netherlands the day after Malaysia Airlines Flight MH17 was downed, apparently by pro-Russian rebels in eastern Ukraine. The Netherlands had more victims on the flight than any other country.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.