Russia lets off Yukos unit with warning
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Russia's wounded giant Yukos appeared to have won a three-month stay of execution after a top Russian official said its main production unit was unlikely to have its oil license revoked.
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Russian officials Wednesday shrugged off the decision by embattled oil giant Yukos to file for bankruptcy protection in the US, saying the move was politically motivated.
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MOSCOW: Russian oil major YUKOS is poised to lose its core Siberian units, but the state will postpone its final move to dismantle the giant firm beyond next weekâs tax deadline, analysts predicted on Friday.
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MOSCOW, Dec. 19 - Russia dismantled its largest oil producer, Yukos, on Sunday by auctioning off the company&#39;s largest subsidiary to a little-known concern that registered as a last-minute bidder on Friday.
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Russia warns Europe and US against recognising independent state
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YUKOS and its investors were left guessing as to Russia's next move Monday after its main oil production unit was sold off to Baikal Finance Group, a mystery firm registered in a provincial city.
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Russia&#39;s natural resources minister said Friday that he thought his ministry would give the main production unit of the battered Yukos oil company a three-month warning before pulling its drilling licenses, the Interfax news agency reported.
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Russia pledged on Friday to ignore a US court order intended to block the looming auction of oil giant Yukosâ key production subsidiary, but a consortium
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Investors refrained from trades in Yukos as they awaited a critical court decision on whether Russia's embattled oil giant could use its contested stake in a rival company to pay off its crushing tax bill.
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Russia&#39;s troubled Yukos oil company says it is being forced to slash production and expenditures because the government has frozen its assets.
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Russian oil company Yukos, possibly making its last stand to prevent Russia from selling its main production unit in a tax dispute, asked a US bankruptcy judge Thursday to block a scheduled auction of the unit.
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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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Oil giant Yukos is halting two-thirds of its exports to China because of its financial troubles, a move which could raise oil prices.
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Russia'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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The majority owner of embattled Russian oil company Yukos threatened legal action Monday against potential suitors for its main subsidiary, which is to be auctioned off by the government next Sunday.
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Yukos drops the threat of legal action against five banks it had accused of involvement in the sale of its key unit.
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Beleaguered Russian oil company Yukos said yesterday that it had reduced its crude output forecast for the year as bailiffs continued to collect cash against