Yukos in default after missed interest payment
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International credit rating agency Standard and Poor&#39;s says it has cut its rating on Yukos to default after the struggling Russian oil group missed an interest payment.
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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.
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The Russian Government is going ahead with the sale of a large part of oil giant Yukos in order to recover an $18 billion tax debt.
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The Moscow Arbitration Court ruled Monday that the embattled oil giant Yukos must pay some $1.4 billion in fines and penalties as part of a $4.1 billion back-tax claim for 2001, the Interfax news agency reported.
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The Russian Tax Ministry said Friday that oil giant Yukos owes another 119.887 billion rubles (some 4.1 billion US dollars) in back taxes for the year 2001.
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The giant Russian oil firm Yukos has failed to convince a Moscow arbitration court to suspend the sale by bailiffs of its Siberian subsidiary to satisfy a $3.4 billion tax debt.
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The protracted legal battle over Russian oil giant Yukos appeared to enter its final phase Friday when the government set a date to auction off a majority stake in the company's richest energy fields and demanded another $6 billion in back taxes from a business already facing a crippling $14 billion bill for outstanding taxes and fines.
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3 September 2004 -- Russia&#39;s tax authorities have given Yukos another bill for back taxes that is higher than the oil company expected.
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The protracted legal battle over Russian oil giant Yukos appeared to enter its final phase yesterday when the government set a date to auction off a majority stake in the company's richest energy fields and demanded another $6 billion in back taxes from a business already facing a crippling $14 billion bill for outstanding taxes and fines.
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Russian oil giant Yukos says it is about to miss a deadline on a back tax payment of more than $6bn due from 2002.
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Trading partners keep exports flowing; Russia tries to avoid blame for high world oil prices. MOSCOW  - Traders have been paying for Russian oil major Yukos, whose bank accounts are frozen due to a tax dispute with the state, to ship its oil by ...
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Russian oil giant Yukos is to ask a Moscow court for more time to pay its tax bill.
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Russian oil major YUKOS (YUKO.RTS: Quote, Profile, Research) is prepared to pay $8 billion in tax liabilities by July 2006 to avoid bankruptcy, YUKOS Chairman Viktor Gerashchenko said on Thursday.
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Fears of a management bailout at the embattled oil giant Yukos loomed large Thursday after the company&#39;s chief financial officer said he had delayed his return to Moscow indefinitely after Russian prosecutors summoned him for questioning.
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Beleaguered Russian energy giant Yukos has warned that it will not produce as much oil as expected this year. It blames bailiffs who are draining its bank accounts to pay its potentially ruinous tax bill.
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Russian oil giant Yukos suffers another blow in its tax battle after a Moscow court rules it must pay $1.4bn (Â£778m) in fines.
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The Russian oil company, Yukos, continued its legal battle with the Russian government in two-thousand-four. The government reported this year that Yukos owed more than twenty-seven thousand million dollars in taxes.