icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Abramovich to keep Yukos billions

Russian billionaire and owner of Chelsea football club, Roman Abramovich, has no reason to fear prosecution from former Oil giant Yukos, reports Russia's Vedomosti newspaper.

The bankrupt oil company has dropped its demand for $US 3 BLN from Abramovich's firm – Millhouse Capital.

The Millhouse-controlled oil operation Sibneft struck a deal with Yukos in 2003.

Yukos acquired 92% in Sibneft – paying Millhouse Capital $US 3 BLN.

When Yukos was declared bankrupt, Abramovich's company cancelled the deal, but was reluctant to hand back the cash.

Yukos's receiver had been attempting to bring the case to court, but both sides have now agreed to drop all claims in relation to the deal.

Podcasts