RUSSIA: PUBLIC PROSECUTOR CLAIMS 76 BILLION ROUBLES FROM BANK ACCOUNTS BELONGING TO OIL GROUP YUKOS.

Record ID: 566309

  • Title: RUSSIA: PUBLIC PROSECUTOR CLAIMS 76 BILLION ROUBLES FROM BANK ACCOUNTS BELONGING TO OIL GROUP YUKOS.
  • Date: 2nd September 2004
  • Summary: (EU) MOSCOW, RUSSIA (SEPTEMBER 2, 2004) (REUTERS) 1. EXTERIOR OF YUKOS HEADQUARTERS IN MOSCOW/ TILT DOWN; MAIN ENTRANCE OF YUKOS BUILDING; SLV: YUKOS BUILDING LAS: OF BUILDING. (3 SHOTS) 0.20 (EU) GRAPHIC (SEPTEMBER 2, 2004) (REUTERS) 2. CU: YUKOS SHARE PRICE. 0.28 (EU) ANGARSK, SIBERIA, RUSSIA (RECENT - AUGUST 26, 2004) (REUTERS) 3. SLV: MAIN YUKOS OIL LOADING FACILITY/ CU: SIGN. ( 3 SHOTS) 0.55 4. VARIOUS: YUKOS OIL TRANSPORT TANKERS ON TRAINS, MOVING AT FACILITY AT ANGARSK; OIL TANKERS MOVING ALONG RAILWAY/ OIL BEING LOADED INTO OIL TANKER FOR RAIL TRANSPORT. (4 SHOTS) 1.34 5. CU: YUKOS WORKER MOVING PIPE TO LOAD OIL INTO TANKER; SLV: OIL TANKERS BEING LOADED; CU: OF PIPE LOADING OIL INTO TANKER/ STEAM RISING. (3 SHOTS) 1.56 6. MV: YUKOS PETROL STATION/ CARS FILLING UP; CU: PETROL PUMP; SLV: CARS AT YUKOS PETROL STATION; WS: OF PETROL STATION. (4 SHOTS) 2.27 (EU) GRAPHIC (SEPTEMBER 2, 2004) (REUTERS) 7. CU: NEW YORK LIGHT CRUDE PRICE RISING ON YUKOS NEWS. 2.41 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 17th September 2004 13:00
  • Keywords:
  • Location: MOSCOW, RUSSIA AND ANGARSK, SIBERIA, RUSSIA
  • Country: Russia
  • Reuters ID: LVA4NP2PHGHAFER3IY8KLDVJM57L
  • Story Text: Moscow court claims 76 billion roubles (2.6 billiion
    U.S. dollars) on YUKOS accounts.



    A Moscow court has acceded to a request from the
    Public Prosecutor to lay claim to 76 billion roubles (2.6
    billion U.S. dollars) on bank accounts belonging to oil
    group YUKOS, the company said in a statement on Thursday
    (September 2, 2004).

    The statement said: "The arrest paralyses the
    productive capacity of YUKOS," adding that it prevented the
    company from settling accounts and from paying salaries to
    its employees.

    A YUKOS spokesman said the latest court ruling
    effectively froze all of the company's bank accounts,
    including those of affiliate companies, whereas an earlier
    freeze order only applied to YUKOS' parent company
    accounts.

    "The arrest led to a complete blocking of the accounts
    of subsidiary companies and deprived them of the
    possibility to carry out any transactions, including
    payments of salaries, tax payments and payments related to
    current operations," said the statement.

    It added that the court decision would bring regional
    operations grinding to a halt and could lead to a social
    unrest among people who depended on the company for their
    livelihoods.

    "A direct consequence of such a decision even in the
    short term is that it may lead to a build up of social
    pressure in the regions in which the company operates,"
    said the statement. A deadline for YUKOS to pay 3.4 billion
    U.S. dollars in back taxes in full to the authorities due
    for the 2000 financial year passed earlier this week.

    Energy Ministry data released on Thursday showed that
    YUKOS boosted oil production in recent months despite
    earlier warnings from the company that it may have to cut
    production as a result of its standoff with the
    authorities.

    NYMEX crude futures rose more than 1 U.S. dollar after
    a freeze on the bank accounts of Russian oil major YUKOS
    fanned fears of supply disruption.

    October crude was up 1.30 U.S. dollars at 45.30 U.S.

    dollars a barrel at 11:14 a.m. EDT (1514 GMT).



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