Yukos Becomes Bankrupt in a Week

Yukos is trying to find additional money to settle the tax bill as soon as possible. If their efforts are in vain and Yuganskneftegaz is sold, YUKOS management will have to announce their bankruptcy.

The sale of Yukos? main asset Yuganskneftegaz will lead to significant cuts of cash inflow to Yukos. So, even if they pull through the current liquidity crisis, Yuganskneftegaz?s sale will lead Yukos to bankruptcy. Moreover, Yukos will be unable to perform its export contracts liabilities.

Yukos executive said that Yuganskneftegaz may be sold on July, 26-30 for $1,75 billion to unknown purchaser.