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Generational Dynamics Web Log for 22-Jul-04
Yukos: Bankruptcy is near

Web Log - July, 2004

Yukos: Bankruptcy is near

The Kremlin is stonewalling Yukos and preparing to nationalize its major asset according to CEO Steven Theede at at a press briefing today.

Theede said he had sent 11 letters to various Russian government officials to discuss a way out, and has not received a single formal response. In the meantime, the process to sell Yukos' major asset, it's Yuganskneftegas subsidiary, to a Kremlin-controlled firm at 10% of market value is proceeding. Nationalization of Yukos is clearly not far off. (22-Jul-04) Permanent Link
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