BREAKING NEWS ~ Russian court upholds tax penalties against Yukos Jeannie Shawl at 9:49 AM ET
AP is reporting that a Moscow court has ruled that oil giant Yukos must pay $1.4 billion in fines and penalties on their $4.1 billion back tax bill for 2001.
UPDATE: The Moscow Arbitration Court Monday dismissed a request by Yukos lawyers seeking the appointment of a new judge in the case and ruled that the oil company must pay an additional $1.4 billion in fines and penalties on its 2001 $4.1 back-tax bill. Yukos also must pay a $3.4 billion tax bill for 2000 by the end of the month. Additionally, last week, its main subsidiary Yuganskneftegaz was given a separate tax bill for 2002 totaling nearly $1 billion. AP has more. The Russia Journal has continuing coverage of Yukos' court battles.
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