Moscow court freezes Yukos assets in Rosneft dispute

[JURIST] The Moscow Arbitration Court has frozen the main assets of Russian oil company Yukos [official website; JURIST news archive] as part of an $11 billion lawsuit against Yukos [JURIST report, scroll down] brought by Rosneft [official website], the state oil company that now owns former Yukos subsidiary Yuganskneftegaz. Rosneft is seeking to recover $6 billion for losses that Yukos caused Yugansk by buying oil at below-market prices and is demanding that Yukos pay $5.1 billion in tax claims. The Moscow court's decision, which was issued April 5 but not acknowledged by Yukos until Tuesday, bars Yukos from disposing of shares in its major remaining subsidiaries, including two oil production units and a refinery. The court will consider Rosneft's claim for damages next month. AP has more. MosNews has local coverage.



 

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