Putin claims he doesn’t owe $50bn

But western investors believe a court hearing this week will go their way

Russia is making what may be its final attempt to avoid paying a $50 billion arbitration award at a hearing in the Netherlands this week.

This record-breaking sum — plus costs of $60m — was awarded in 2014 to the former majority shareholders in Yukos, which was Russia’s largest privately owned energy company until its assets were appropriated by the Puti…