Russia Rejects U.S. Injunction Over Yukos
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Russia is vowing to proceed with an auction of oil giant Yukos' key production subsidiary, saying a U.S. court ban is irrelevant. But the expected winner of Sunday's auction, the state-run Russian gas company Gazprom, may not be able to pay after a consortium of Western banks reportedly put on hold billions of dollars in credit it needs to fund its bid.
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A US court  will rule on whether to block the forced auction of Yukos assets on Thursday,  the company says.
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Russia on Wednesday curtly rejected U.S. criticism of sweeping political changes proposed by President Vladimir Putin, telling Washington to stay out of its business.
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MOSCOW  - A Russian court on Thursday rejected an appeal by the Yukos oil company seeking to overturn a freeze on the accounts of the struggling oil giant's core subsidiaries.
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The Yukos oil company has filed for bankruptcy in the United States and appealed for a temporary restraining order against the auction of its main production unit that is scheduled for Sunday &#151; dramatically challenging the Russian government to enter arbitration proceedings.
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SAN FRANCISCO (CBS.MW) -- Russian oil giant Yukos, fighting to keep Moscow from auctioning off its biggest asset, has been granted a hearing Thursday before a federal bankruptcy court judge in Houston.
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The crisis-hit Russian oil company Yukos sought refuge in a United States bankruptcy court yesterday, telling the presiding judge it had no recourse within Russia&#39;s judicial system.
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MOSCOW  - Russia pushed ahead with the weekend auction of the core asset of oil giant Yukos despite a US court order barring the sale, a rare legal victory that is unlikely to prevent the state from gaining control.
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Russia brushed aside an American court&#39;s attempt to halt the auction of the oil giant Yukos&#39; biggest production unit, but a consortium of international banks withdrew
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order that seeks to halt  Sunday's auction for at least 10 days.
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Russian oil major YUKOS said on Wednesday it had filed for bankruptcy protection in a U.S. court and would seek an order from the court to halt the Dec. 19 sale by the Russian state of its main oil unit.
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Russian oil major YUKOS has filed for  bankruptcy protection in a U.S. court and will seek an  injunction to stop Russia from auctioning off its main  production unit on Dec. 19, it said on Wednesday.
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Russia will forge ahead with an auction  on Sunday to sell the key asset of stricken oil company YUKOS  despite an order from a U.S. bankruptcy court blocking the sale  for 10 days, an official said on Friday.
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Russia curtly told the United States to  stay out of its business Wednesday after U.S. criticism, echoed  by the European Union, of President Vladimir Putin's plans for  radical change that will boost Kremlin power.
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The embattled Yukos oil company has filed for bankruptcy in the United States and appealed for a temporary restraining order and injunction against the auction of its main production unit that is scheduled for Sunday.
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Russia said on Friday it would go ahead and sell Yuganskneftegaz, the main oil production unit of YUKOS, despite a US bankruptcy court order seeking to block Sunday&#39;s auction for 10 days.
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Russia on Wednesday curtly rejected U.S.  criticism of sweeping political changes proposed by President  Vladimir Putin, telling Washington to stay out of its business.