The accounts of basic Yukos industrial affiliates have come under arrest

Saturday, May 30, 2020

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A drastic accumulation arrangement involves money now on the accounts and incoming sums to a total 76 billion rubles, roughly $2.5 billion. All company branches are forced to suspend whatever transactions to drive the company into a deadlock, Yukos says in a statement. The federal top prosecutor's office accuses Irina Golub of masterminding tax evasion to the 76 billion. She is Director General of Yukos FBC Ltd., accounting company serving all Yukos affiliates. The indictment assumes presence of private money on corporate accounts-a preposterous allegation, points out the statement. The arrest threatens to start social confrontation in the vast lands of Yukos activity-the Samara Region on the Volga, and Siberia's Tomsk and Irkutsk regions and Khanty-Mansi and Evenki autonomous areas. They are all doomed to a finance plight. More than that, fuel and petrochemical supplies to more than forty Russian regions will be doubtful, warns Yukos. Yukos paid $700 million back taxes, last July alone. The payments had exceeded two billion dollars by September 1, and were to hit a $2.5 billion mark, mid-month. The company intended to pay all tax arrears on a related court verdict by September's end. Yukos is willing to do all it can to stay afloat, and pay 2000 back taxes as soon as possible. It is determined to appeal to law courts in and outside Russia for a hitback to protect itself and its several thousand employees from over-zealous bureaucrats' arbitrary moves, reads the statement. The national stock market sent Yukos 4 per cent down as soon as it became clear that its branches would have to suspend industrial activities with the account arrest.

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