YUKOS-RM president supports YUKOS bankruptcy

YUKOS-RM president supports YUKOS bankruptcy


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Anatoly Nazarov, president of YUKOS-RM, which controls the main financial flows of YUKOS Oil Company, supports the bankruptcy of YUKOS and sees the importance of partnership with Rosneft.


“The system of relations between YUKOS-RM and Rosneft, built on a purely business basis: supplier and refiner of oil, is of enormous significance for the stable production activity of the company at the moment.” Regarding the bankruptcy of the company he said this is “an unavoidable process” which may nevertheless provide a chance to keep the company and its staff together. Nazarov said the possible bankruptcy procedure will not influence the company’s production activity. “The start of bankruptcy procedures against YUKOS will not affect the authority of managers, or the activities of other legal entities, including oil refining, sales and logistics companies, and also the management company YUKOS-RM,” he said.
He said the conflict between management has not influenced the manageability of the company. “All the YUKOS sub-divisions are working properly, as normal, and all obligations to business partners are being met in full. All production plans and investment programmes are being implemented, not only those aimed at maintaining business, but also those aimed at developing it,” he said.

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