Accessibility links

Breaking News

Yukos Has Yet to Pay $7 Billion In Back Taxes

13 October 2005 -- Russian bailiffs today said the troubled Yukos oil company has not yet paid $7 billion of its tax debts.

Sergei Sazanov, deputy general director of the Federal Court Bailiff Service, said bailiffs have so far collected $14 billion.

Yukos has been assessed for a total of $28 billion in back taxes, fines, and penalties, though some of that amount remains to be upheld by courts.

Additionally, bailiffs this week announced that they had begun the process of executing a nearly $500 million claim against Yukos brought by Western creditor banks.

Yukos founder Mikhail Khodorkovskii was convicted of fraud and tax evasion and sentenced to eight years in prison. Observers said the case against Khodorkovskii was a Kremlin-inspired punishment for his political ambitions.


For more news about events in Russia, see RFE/RL's webpage News and Features on Russia