Court Reverses Yugansk Arrest.

(From The Moscow Times)

The arrest of Yukos' main production unit, Yuganskneftegaz, by court marshals last month was illegal, the Moscow Arbitration Court ruled late Friday.

The ruling appeared to be a rare bit of good news for Yukos, but there still was little reason to believe the state was easing its assault on the oil major.

The ruling came as a consortium, said to involve investors from the Persian Gulf and working in cooperation with Menatep ally Konstantin Kagalovsky, offered to pay off Yukos' debts to the state, no matter how large, in order to save the company.

"More than half of the money would come from Persian Gulf countries," Kagalovsky said by telephone Sunday. "We are ready to sort out any tax debt problems. We would pay as much as it takes.

"Also if need be, we will cover any damages the court decides were caused by [Mikhail] Khodorkovsky and [Platon] …