Yukos Swears To Fight Against Any Yuganskneftegaz Buyer

Russia beleaguered oil giant Yukos will fight the auction sale of its key production unit Yuganskneftegaz against its crushing back tax debt, and has filed an appeal to the Moscow Arbitration court that will be heard this week.

Meanwhile, Italian energy giant ENI, which was rumored to be mulling a bid for Yuganskneftegaz, announced it would not take part.

Yukos faces $24.5 billion in back tax claims for 2000-2003 in what observers call a Kremlin-led drive to marginalize its jailed founder Mikhail Khodorkovsky and reassume dominance in the politically crucial oil sector.

Yukos said it will fight in court with any Yuganskneftegaz new owner.