Russia » Economics

Russia's Ministry of Finance is unaware of "Yukos'" financial problems

How could that happen?
Assistant director of the department of budget policy at the Ministry of Finance Tatyana Egorieva has made an official statement claiming that “Yukos” oil company ran out of money and the company is unable to pay back its debts to the Ministry of Finance of the Russian Federation. This has been reported to members of the State Duma’s budget committee.

In the meantime, “Yukos” spokesman claims that they do in fact possess enough financial means to liquidate the tax debt. “We have enough finances; but the company is unable to use the money without the appropriate permission of certain organizations; namely, the bailiff office. Our accounts are under arrest; that is why all our actions are dependent on decision of either the tax board or that of bailiffs. As for us, we do not have direct access to our accounts,” noticed the company's spokesman.

According to an earlier report, the federal budget draft for 2005 has taken into account the “Youkos's” tax debt in the amount of 35 billion rubles. The money, as was stated by a Ministry’s spokesman, represents company’s claimed debt for 2000, total value of which constitutes more the 99 billion rubles.

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