Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Vilnius Pushes for Yukos Sale

VILNIUS, Lithuania -- Lithuania has threatened to take control of Yukos' majority stake in the country's Mazeikiu Nafta refinery, citing concerns over national security.

Yukos, which is paralyzed by a Russian government claim for $28 billion in back taxes, has been in talks with a string of firms to sell its 53.7 percent stake.

The Lithuanian Economy Ministry, worried about the fate of the country's biggest firm by sales, said in a statement late on Tuesday that the government could force Yukos to sell.

"At present, it is up to Yukos to sell its shares in Mazeikiu Nafta," the ministry said. "However, the government, seeking to ensure its national security interests, could use its contractual rights to assume control of the deal with a third party."