YUKOS Top Managers Leave Russia Fearing Arrest
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The top management of oil major YUKOS has left Russia fearing arrest under a Kremlin drive to &quot;decapitate&quot; the country&#39;s largest oil exporting company, a YUKOS source said on Thursday.
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The board chairman of OAO Yukos said the oil company's core shareholders might sell their controlling stake, a newspaper reported Tuesday.
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A majority stake in the embattled Russian oil company Yukos' main production unit will be sold at an auction scheduled for Dec. 19, an announcement in the official government newspaper said Friday, confirming the country's largest oil producer will be broken up as part of a politically charged battle for control over the strategic resource.
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The Russian government issued an arrest warrant for the chief lawyer for Yukos and arrested a midlevel executive at a company subsidiary.
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Russia left YUKOS and its investors  guessing as to its next move on Monday after selling its main  oil production unit to Baikal Finance Group, a mystery firm  registered at a grocery in provincial Russia.
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YUKOS petition for bankruptcy protection was lodged to the US court to protect reputation of foreign managers, won`t held the holders, M. Khodorkovsky said.
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MOSCOW : Russia announced plans to break up Yukos in a crippling blow to Russia&#39;s largest oil producer and its billionaire founder who dared to challenge President Vladimir Putin&#39;s rule.
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YUKOS shareholders gave warning yesterday that the oil giantâs attempt to seek bankruptcy protection in the US was unlikely to prevent the Russian Government-ordered
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The flight to London of CE Steven Theede and chief financial officer Bruce Misamore leaves Yukos rudderless as it faces ruin under a $25bn back tax demand.
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Russian authorities have searched the homes of dozens of managers working for the embattled Yukos oil company in what one board member described as a massive campaign reminiscent of the Stalinist purges, a news agency reported Sunday.
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Members of Ukrainian Prime Minister Viktor Yanukovych's administration have begun to leave the country fearing a backlash and investigations.
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Russia&#39;s embattled Yukos oil giant raised the stakes in its bitter standoff with the Kremlin as the company slashed supplies to China in a move analysts said was designed to cause maximum embarrassment in Moscow.
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Fear of arrest has forced all the top executives at Russian oil giant Yukos to flee the country. The entire management board was in London on Thursday, according to the Financial Times.
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Rosneft, the state-owned Russian company that bought Yuganskneftegaz mystery buyer, Baikal Finance, may ouster Gazprom from its position as Russiaâs top energy company.
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Rosneft, the state-owned Russian oil company, has reportedly moved to take control of Yuganskneftegaz, formerly Yukos&#39;s most important oil production plant.
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LONDON - The entire management board of the embattled Russian oil company Yukos appears to have fled the country for fear of arrest.
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Top executives at the Russian oil company Yukos, including two Americans, have left Russia, saying they fear persecution as a result of the company&#39;s continuing dispute with the Kremlin.