Bottles of Russian vodka are seen at a Virginia Alcoholic Beverage Control Authority store Feb. 28 in Arlington, Virginia. (Photo by STEFANI REYNOLDS/AFP via Getty Images)

Russian vodka brands previously owned by the Kremlin failed to sell at a Dutch auction.

According to Bloomberg, Yukos Oil Co. was attempting to recover a $50 billion arbitration award won in a lawsuit against the Russian Government by selling 18 popular trademarks from the country, including Stolichnaya and Moskovskaya.

Per Bloomberg, GML, a holding company of the ex-owners, maintains a positive feeling despite the failure, as the auction was an important step after 17 years of litigation.

Tim Osborne, chief executive of GML, said that it shows the company will be able to get through this phase of enforcing the payment.

“We are not here to just throw assets away. We are looking to collect $57 billion – 58 billion,” Osborne said, per Bloomberg.

GML initiated legal proceedings in 2005 to collect back taxes after Putin began securing state control over Russian oil. Yukos was liquidated as a result, and its CEO, Mikhail Khodorkovsky, was arrested for “precipitating a break up of the oil exporter,” according to Bloomberg.

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