Ex Yukos bosses in auction anger
Published February 22nd, 2007
The former management of Russian oil firm Yukos have condemned the move to auction off the company’s assets.
Five Russian oil refineries and 400,000 barrels of daily oil production will be among the assets of Yukos going under the hammer from March.
The receiver values the assets at about $22bn, but Yukos owes the government $26bn in back taxes.
However, the former bosses claim that this tax claim is false and is also politically motivated.
They also say that the assets are being sold for far less than they are worth.
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