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Yukos Unit 2 Moscow


friendly buyer at a
price below its value.
The statement comes just over a year after Yukos founder
Mikhail Khodorkovsky was arrested on charges including
fraud and tax evasion. His trial and the mounting tax
claims against Yukos are widely seen as a Kremlin-backed
campaign to punish the billionaire for what was his growing
clout and take Russia's largest oil producer out of his
hands.
President Vladimir Putin, who has strengthened the
Kremlin's control over the country in five years at the
helm, is seen as eager to reclaim lost state influence in
the important and lucrative energy sector.
"The game starts now _ it's going to come to and end one
way or the other," said Chris Weafer, chief strategist at
Moscow's Alfa Bank.
"People had assumed Putin was frustrated and wanted to
bring it to an end by end of year. The question now is how
much it is sold for and whether this covers the tax bill,"
Weafer said.
Weafer said he expected a buyer would need to have Kremlin
affiliations and therefore protection against the lawsuits
Yukos has promised any company that purchases
Yuganskneftegaz. Among companies considered potential
buyers are the state-connected natural gas giant Gazprom
and Surgutneftegaz, which also has Kremlin ties, but
Gazprom on Friday reiterated repeated denials that it will
buy Yukos assets.
Yukos faces total tax claims of US$18.4 billion (¤14.1
billion) for 2000-2002 and expects a claim for 2003 as
well. An investment bank that evaluated Yuganskneftegaz
after the Russia Justice Ministry said it would be sold,
Dresdner Kleinwort Wasserstein, estimated its value at
between US$14.7 billion (¤11.5 billion) and US$17.3 billion
(¤13.6 billion).
--more
1422 Local Time
1122 GMT


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