Yukos Case Dismissed by U.S. Court

By WebProNews - Fri, 02/25/2005 - 9:36am.

Yukos' U.S. bankruptcy case has been dismissed by a judge who decided the Russian government should be involved.

Yukos has been trying to get U.S. courts to help its case for two months.

"The case had threatened to open a rift between the United States and Russia, which has moved to bring under Kremlin control the country's energy resources that were sold off in the chaotic privatizations in the 1990s.

YUKOS has complained it was the victim of a Russian government-orchestrated campaign to destroy it and former owner Mihkail Khodorkovsky, who is facing a 10-year prison term for fraud and tax evasion.

The Russian government, which has levied a $27.5 billion back tax bill on YUKOS, has steadfastly denied it would abide by any rulings from U.S. courts on the issue, and it did not appear as a participant in the case."

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