4. The difficulty whether or not the steps of Respondent must be considered as expropriations underneath the British isles-Soviet BIT is transferred to the merits phase of this arbitration. (a) Purchasing the Russian Federation to pay payment for that injury to the worth of Claimant’s shareholding in Yukos equal to the worth that expenditure m

" The subsequent forced bankruptcy, seizures of Yukos’ remaining assets, and the ’ sale of These belongings at auction over the training course of 2007 completed the expropriation. In the event the dust settled, the Russian Federation had bankrupted and liquidated Yukos, and state- j owned Rosneft was in possession of just about all of Yukos’