On July 18, 2014, arbitral tribunals established under the United Nations Commission on International Trade Law ruled in three arbitrations that the Russian Federation must pay $50 billion for expropriating the assets of OAO Yukos Oil Company (Yukos).  According to the press release, “the arbitral tribunals unanimously held that the Russian Federation had taken measures with the effect equivalent to an expropriation of Claimants’ investments in Yukos and thus had breached Article 13(1) of the Energy Charter Treaty.”  A news article stated that the decision was in relation to “decisions made under President Vladimir Putin's rule during his first term as president to nationalise Yukos” and that the arbitral tribunals determined “Russian authorities had subjected Yukos to politically-motivated attacks.”