MOSCOW, Aug. 9 (UPI) -- Court bailiffs have again seized Russian oil company Yukos' stake in its key oil-producing unit, Russian news service Interfax reports.
Due to insufficient funds to pay some of its creditors, the court seized shares in OAO Yuganskneftegaz, which, since it is not part of the company's fixed assets such as machinery, belongs to creditors, Russia's Justice Ministry said Monday.
The Russian oil titan owes $3.4 billion in taxes for the year 2000, and will also probably have to pay taxes for 2001 and 2002.
The Moscow Arbitration Court ruled last week the company's production assets could be seized only if the debtor lacked cash or other assets to pay its tax bills, NewRatings.com reports.
The court has also rejected Yukos' appeal against the seizure of Yukos subsidiary Tomskneft, NewRatings.com said.
