four. The problem whether or not the steps of Respondent should be regarded as expropriations under the United kingdom-Soviet BIT is transferred to your deserves section of this arbitration. Claimant, by contrast, was during this entire period of time practically nothing greater than an uncompensated financial intermediary, obligated to act (for

Claimant, in its Reply, won't contest Respondent’s demonstration in Annex B towards the Assertion of Defense the starting value, closing price and various parameters of the YNG auction had been in compliance with Russian law and in keeping with Worldwide practice, and that the steps of Yukos and its management - in blocking the participation in t