Yukos executives flee as Kremlin move in for the kill!
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As Yukos, one of Russia&#39;s largest oil companies nears its end, six of its top executives have left the country in fear of possible charges being brought against them.
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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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The former head of Russia&#39;s once-mighty Yukos oil group said President Vladimir Putin&#39;s drive to liquidate the company has been destructive and senseless.
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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Russia's justice ministry announced plans to break up the Yukos oil giant in a fatal blow to Russia's largest oil producer and former Western investor darling that once dared challenge President Vladimir Putin's rule.
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Sirens scream, jeeps fly past, helicopters prepare for take-off. Russia's flamboyant environmental enforcer Oleg Mitvol is in town.
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Yukos is making a last-ditch attempt to use the US courts to preserve some kind of future for itself. But its adventure as Russia&#39;s biggest private sector company - an
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Russian prosecutors have continued their onslaught against the country&#39;s largest oil producer, raiding the accounting division of Yukos and seizing documents.
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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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The identity and motivation of the new owner of Yukos' main production division is the subject of frantic speculation in Moscow.
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Two senior executives in the collapsed Yukos oil empire receive long prison terms for fraudulent trading.
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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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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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MOSCOW: Russia arrested an executive of embattled oil major Yukos yesterday and put the firm&#39;s top lawyer on the wanted list, stepping up pressure on the company ahead of its widely expected demise.
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MOSCOW  - Law enforcement agents raided struggling Russian oil giant Yukos as tax authorities gave the company an impossible demand to pay up billions of dollars within hours, raising the spectre of a rapid fire sale of its main production asset.
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In what essentially has turned into a game of chicken, with the winner obvious, embattled Russian oil giant Yukos intends to cause as much havoc as it can before it is torn apart by the Kremlin.
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Almost a year has passed since the then-Yukos CEO Mikhail Khodorkovsky was jailed. Meanwhile, the oil giant he founded is about to lose its core asset, Yuganskneftegaz, that produces 60 per cent of all its oil.