Russian state-controlled oil firm Rosneft today announced it will take out $22 billion in loans in order to bid for assets of bankrupt oil giant Yukos.
The assets go up for auction on March 27.
Yukos was forced into bankruptcy after Russian authorities claimed tens of billions of dollars in back taxes. Its founder, Mikhail Khodorkovsky, is serving an eight-year prison sentence after being convicted of fraud and tax evasion in what many say was a politically motivated trial.
Copyright (c) 2006. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036. www.rferl.org
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
