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. Last Updated: 07/27/2016

Marshals Say Yukos Still Owes $7Bln

Court marshals said Thursday that Yukos oil company has not yet paid $7 billion of the back tax debt that led to the sell-off of key oil fields in December in a disputed, state-ordered auction.

Marshals had so far collected $14 billion, Interfax quoted Sergei Sazanov, deputy general director of the Federal Court Marshals Service, as saying.

Yukos has been assessed for a total of $28 billion in back taxes, fines and penalties, though some of that amount remains to be upheld by courts. Additionally, marshals this week announced they had begun the process of executing a nearly $500 million claim against Yukos brought by Western creditor banks.

State-controlled oil Rosneft acquired Yukos' biggest production unit, Yuganskneftegaz, after a December auction. The fight is now on for Yukos' remains, with Rosneft and the Western banks separately seeking creditor status with regard to Yukos' foreign assets through the Dutch courts.

Yukos said Thursday that its 54 percent of Lithuanian refinery Mazeikiu had not been frozen by a court in the Netherlands, where the stake is held.

An adviser at the Lithuanian Economy Ministry had earlier said the holding in Mazeikiu had been frozen, citing a meeting between government and Yukos officials Wednesday.

Yukos spokeswoman Claire Davidson said the Dutch court had given Yuganskneftegaz 90 days to argue why the Mazeikiu stake should be frozen and no formal court process to put a freeze in place had taken place.

(AP, Bloomberg)