--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar


Hot Links
China Development Gateway
Chinese Embassies


Rosneft Gets Loan from China for Yukos Asset

A Russian bank has got a US$6 billion loan from Chinese banks to finance state oil firm Rosneft's purchase of a core production unit of oil giant Yukos, a top Russian energy official said in Moscow Tuesday. 
 
Without naming the Chinese banks, Russian Finance Minister Alexei Kudrin said Russia's Vnesheconom bank borrowed the loan to credit Rosneft for the purchase of Yukos' major subsidiary Yuganskneftegaz, which was put up for auction in December to raise money for the payment of Yukos' multi-billion-dollar back tax bill.

Rosneft had paid US$9.4 billion for the acquisition of Yuganskneftegaz after it purchased Baikalfinans group, the previously unknown company that unexpectedly won the bid for Yuganskneftegaz, which produces 60 percent of Yukos' output.

The sale has been considered as a key stage of the year-and-a-half judicial campaign against Yukos. Some critics see the legal process as a Kremlin-inspired political move to dwarf former Yukos CEO Mikhail Khodorkovsky who has allegedly funded political opponents of President Vladimir Putin.

(Xinhua News Agency February 2, 2005)

China Upbeat About Sino-Russian Energy Co-op
Yukos Auction to Continue Despite US Court Ruling
Yukos Files for Bankruptcy Protection
Russia Urged to Honor Oil Deals
Yukos Urged to Honor Oil Commitments
Russia to Double Oil Deliveries to China
Yukos Case Not to Affect China-Russia Oil Pipeline: FM
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688