[JURIST] Russian state oil company Rosneft announced Thursday that it had bought 100% of Baikal Finance Group, the mysterious entity that last weekend purchased the production arm of Russian oil giant Yukos for over $9B despite temporary restraining order from a US bankruptcy court. The Rosneft purchase effectively expropriates the core of Yukos, from which the Russian government is seeking to recover over $27B in back taxes while it prosecutes former Yukos CEO Mikhail Khodorkovsky for tax fraud. BizWorld has more. Russian President Vladimir Putin once again defended the roundabout deal in a year-end Kremilin press conference:

Now regarding the acquisition by Rosneft of the well-known asset of the company – I do not remember its exact name – is it Baikal Investment Company? Essentially, Rosneft, a 100% state owned company, has bought the well-known asset Yuganskneftegaz. That is the story. In my view, everything was done according to the best market rules. As I have said, I think it was at a press conference in Germany, a state-owned company or, rather companies with 100% state capital, just as any other market players, have the right to do so and, as it emerged, exercised it.