Yukos crisis may affect shipping

Embattled Russian oil producer Yukos may have trouble paying to ship its oil to export markets as a result of the ongoing battle with the Moscow tax authorities.

Seizure of assets, including cash on bank accounts, may start today in fulfilment of the first court-ordered payment of $3.4 billion in tax arrears for the year 2000. The threat of a comparable $3.4 billion back-tax claim for 2001, and as yet unstated tax arrears for 2002 and 2003, remain to be settled.