MOSCOW, July 6 (UPI) -- Russian Deputy Finance Minister Sergei Shatalov said Tuesday it's possible the country will step in and reorganize the $3.4 billion debt of oil giant Yukos.
Yukos is required to either file a request for a delay or debt restructuring although no request has been received so far, the Novosti news agency reported.
In another hopeful sign, Shatalov said it was possible under tax law the company could make tax payments by installment if it files for bankruptcy.
The company was hobbled when the Russian government froze its assets, giving it no way to pay the tax bill. Additionally, the tax ministry issued another $3.3 billion tax bill to Yukos for 2001.
At the U.S. State Department in Washington, spokesman Richard Boucher expressed concern the Yukos affair may affect investors.
"The appearance of a lack of due process and a possible threat to private property rights have put the domestic and international business community somewhat on their guard and have raised serious questions about the Russian government's respect for investment rights and willingness to arrive at equitable solutions to promote business development," he said.
Yukos Chief Executive Officer Mikhail Khodorkovsky is in jail for corruption along with key business associate Platon Lebedev.
