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Wednesday April 20, 11:22
Yukos’ destiny seems to have a soon ending
(by Helen Snow)

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Yukos’ destiny seems to have a soon ending
A Moscow court has frozen key remaining assets of the embattled OAO Yukos in a suit launched by the state-run Rosneft that took possession Yukos’s main oil-producing subsidiary in December.

The court’s ruling contributed to the fears that the rest of Yukos’s assets could soon be nationalized.

Despite the fact that the authorities seemed to take the pause after the forced sale of the huge Yuganskneftegaz unit four months ago, the recent pressure indicates the future ending of the story.

Rosneft has filed a bulk of lawsuits claiming that Yukos is to pay to Yugansk billions of dollars.

Yukos officials stated Rosneft is intents to bring their company to bankruptcy proceedings in Russia where Rosneft’s status of a major creditor would help it to gain control over the assets.

A Rosneft spokesman declined to comment on the suit or on other statements. Court hearings in the Yugansk case and the other Yugansk suits are expected to take place in the process of the next few weeks.

The story becomes more acute as a Moscow court is to make decision on the future Mr. Khodorkovsky next Wednesday.
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Read the related news and articles:
31 May 2005 07:02 AM Meshchansky court in Moscow sentenced Mikhail Khodorkovsky and Platon Lebedev to nine years in jail.
20 May 2005 10:54 AM Russia wants to retain investors
18 May 2005 03:04 PM Russia will not merge energy giants
17 May 2005 08:41 AM Khodorkovsky’s defense pessimistic about verdict
16 May 2005 09:46 AM Khodorkovsky’s verdict in hearings starts Monday
 


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