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Byline: Nick Watson
Just a day after conciliatory words from Russian President Vladimir Putin set its stock soaring, OAO NK Yukos suffered a setback Friday, June 18, as a court ordered the oil group to pay the *$3.4 billion sought by the government in back taxes -- a payment the company has said would result in bankruptcy.
The Moscow Arbitration Court rejected a number of appeals filed by Yukos in an effort to postpone hearings on the Tax Ministry's claim for the overdue taxes for 2000. The court ordered Yukos to pay up immediately.
The judicial proceedings will now move to a hearing Wednesday at which the authorities will seek to lift an injunction issued last month that prohibits the state from directly confiscating assets from Yukos to pay …