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  Friday, November 22, 2019
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YUKOS has received notice from its creditors of a possible default on USD 1.6 billion in pre-export credit
The creditor has permitted YUKOS and its affiliated companies to conduct trade export operations associated with the credit without restriction. However, the creditor has said it may exercise its right with respect to YUKOS bank accounts that serve as collateral for that credit. The basis for the warning was the April 14 demand by the Russian Tax Ministry that YUKOS pay 99,375,234 rubles in back taxes, penalties and sanctions, as well as an April 15 decision by the Moscow Arbitration Court freezing the company's assets not associated with its fundamental operations. Earlier, YUKOS received a similar notice from the group of creditor banks with respect to USD 1 billion in credit. YUKOS had been granted the USD 1.6 billion in credit on virtually the same terms as it had received the USD 1 billion package
Print YUKOS has received notice from its creditors of a possible default on USD 1.6 billion in pre-export credit Bookmark YUKOS has received notice from its creditors of a possible default on USD 1.6 billion in pre-export credit

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