Russia's Roscosmos State Corporation won a lawsuit in France over the seizure of $700 million in compensation for the defunct Yukos oil company-related assets, Roscosmos communications director Igor Burenkov said Tuesday.

Reports emerged this week that France had seized $700 million in Roscosmos and Russian Satellite Communications Company stakes acting on behalf of Yukos' former shareholders.

"We won this judgment ... They acknowledged that our arguments are correct and do not need to seize our accounts. This is not the end, of course ... But we have defended our interests and will continue defending them," Burenkov told reporters.

Burenkov said Roscosmos would disclose detailed information regarding the ruling at a later time.

According to Roscosmos head Sergei Savelyev, the corporation does not rule out new litigations with former shareholders of the now-defunct Yukos oil company, despite the lawsuit it won in France.

"I think that our partners should not relax - there are other shareholder companies of Yukos," Savelyev said as quoted by the company's press service.

In July 2014, the Permanent Court of Arbitration (PCA) in The Hague ruled in favor of the former Yukos oil company shareholders and demanded Russia pay them $50 billion. In June 2015, Russian assets were confiscated in France and Belgium based on the PCA's ruling.

Source: Sputnik News