Accessibility links

Breaking News

Rosneft Reportedly Buys Yukos Subsidiary


22 December 2004 -- Russian state oil company Rosneft has reportedly become the new owner of embattled oil major Yukos's main production subsidiary.

A spokesman for Rosneft today said the company has bought 100 percent of the shares of Baikalfinansgrup, a previously unknown firm that purchased Yuganskneftegaz, the Yukos subsidiary, in an auction on 19 December.

Russian tax officials forced the sale of Yuganskneftegaz to repay massive tax debts it says are owed by Yukos. Yukos says it has been targeted for political reasons.

(AFP/Interfax/ RFE/RL's Russian Service)

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.

XS
SM
MD
LG