4. The issue whether the steps of Respondent need to be considered as expropriations underneath the UK-Soviet BIT is transferred to the merits phase of the arbitration. Contrary to the representation made by Claimant in its Assertion of Claim that it had "constantly held" the Yukos shares with the date in their initially order in 2004, during Th

Claimant also now expressly disclaims the evaluation of Yukos’ taxes, which showcased so prominently in its prior submissions, constituted functions of expropriation. The hostility from the Russian Governing administration towards Yukos was manifest, and the fall in the cost of Yukos inventory suggests that traders experienced started to sell