Yukos Subs Assets Seized

Moscow court on Tuesday seized the assets in the main subsidiaries of Yukos in response to a lawsuit brought by its former subsidiary Yuganskneftegaz, the Interfax news agency reported.

The Moscow Arbitration Court seized the shares in Samaraneftegaz and Tomskneft, as well as the shares of six other smaller subsidiaries. The ruling, issued on April 5, did not affect Yukos' bank accounts.

"We are aware of the ruling,'' said Yukos spokesman Yevgeny Fokin, adding that he did not have details of the court ruling.

Yuganskneftegaz, now owned by state-run Rosneft oil company, alleged Yukos bought oil from it at below market prices and is claiming more than 163 billion rubles (5.9 billion US dollars) in damages against Yukos. The court is due to examine the damages claim next month.

Yuganskneftegas, which accounted for more than 60 percent of Yukos' oil output, was auctioned off in December against a crippling 28-billion-US dollar back-tax bill for Yukos.