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18

Yukos Liquidates Chinese Office

The beleaguered Yukos company announced that it has decided to close its Chinese office

The beleaguered Yukos company announced that it has decided to liquidate its Chinese office, Interfax reported.

This decision was made at a meeting of the company's board of directors on June 23.

"The activities of the Yukos Oil Company's Office in China are suspended due to problems with financing. Regular contacts with Chinese partners will be carried out by ZAO Yukos RM (oil and gas trade and transportation board)," according to a news release published on the company's website.