Yukos Launches Legal Bid To Halt Rosneft Flotation

The nameplate on Rosneft's offices in Moscow (ITAR-TASS)

July 17, 2006 -- The Russian oil company Yukos today took to Britain's High Court a case aimed at halting the flotation of the Russian state-owned energy giant Rosneft on the London Stock Exchange.

Yukos accuses the Russian government of stealing its prized main oil-producing subsidiary, Yuganskneftegaz, in 2004 and selling it to Rosneft at a very low price.

The hearing is expected to conclude on July 18.

(AFP)