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Article: Russia says Yukos has another month to pay tax bill, easing fears that company's demise imminent
- Article from:
- AP Worldstream
- Article date:
- July 30, 2004
- Author:
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JIM HEINTZ, Associated Press Writer
AP Worldstream
07-30-2004
Dateline: MOSCOW
Russia expects the country's largest oil company, Yukos, to pay its crushing back taxes bill within a month, a Justice Ministry official said Friday in an apparent indication that Yukos' feared collapse isn't imminent.
Yukos' tax troubles _ it owes 99.4 billion rubles (US$3.4 billion) for the year 2000 alone _ alarmed world oil markets this week as the company warned it could be forced to halt production and exports in early August.
The company says the bill could drive it into bankruptcy and many analysts suspect the government aims to dismantle the company and sell the pieces into Kremlin-friendly hands.
But ...