Accessibility links

Breaking News

Court Freezes Yukos Assets

19 April 2005 -- A spokesman for the Russian oil company Yukos says a Moscow court has frozen the assets of its major remaining subsidiaries.

The action follows a lawsuit brought by the firm's former core production unit.

State-run oil producer Rosneft, which now owns the former Yukos unit Yuganskneftegaz, is claiming that Yukos owes damages for paying artificially low prices for oil supplies.

Yukos spokesman Yevgenii Fokin said today that he did not have details of the ruling on the assets of oil production units Tomskneft and Samaraneftegaz and its main refinery, Angarsk.

The ruling by the Moscow Arbitration Court did not appear to cover bank accounts held by Yukos. But officials said it effectively paralyzes a company that was once Russia's top oil producer.

The court is due to examine the damages claim next month.


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.