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RIA Novosti

Russia

Yukos suit to be settled in Russia's favor - minister

20:30 21/04/2006
WASHINGTON, April 21 (RIA Novosti) - Russia's finance minister said Friday he was confident the suit minority shareholders of embattled Russian oil company Yukos had launched against Russian companies and government officials would be settled in Russia's favor.

"I have no doubts that Russia's position will be supported," Alexei Kudrin told a news conference in Washington.

Twelve Yukos minority shareholders filed a suit in a District of Columbia court against Russia, energy giant Gazprom, oil major Rosneft, its state-owned parent company Rosneftegaz and a number of government officials, including Kudrin, on October 24, charging them with a coordinated attack on Yukos aimed to renationalize the company.

The shareholders are contesting the legality of the sale of a 76.79% stake in Yukos production unit Yuganskneftegaz by the federal property management fund on December 19, 2004, in lieu of Yukos' tax arrears for 2000 and 2001. Several days later, Rosneft purchased the unit from Baikal Finance Group, the shadowy group that won the auction.

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