Yukos brings in BKSH in battle against bankruptcy

WASHINGTON: Russian energy giant Yukos Oil has called in Burson-Marsteller’s Washington lobbying unit BKSH & Associates to inform US audiences of the unfolding saga of its perilous position.

The country’s biggest oil company is saddled with a £1.9bn bill for back taxes and fines for the 2000 financial year. It faces bankruptcy by the end of this year since a court order has banned it from selling any property it owns including shares.

Yukos founder and chief executive Mikhail Khodorkovsky, was arrested last October charged with embezzlement. His arrest led to the collapse of its plans to merge with Russia’s third biggest energy company Sibneft.

‘We need to show that Yukos is a world-class oil producer and important for the development of the Russian oil industry,’ said BKSH & Associates vice-chairman and B-M chairman of public affairs Richard Mintz.

The BKSH account team includes Charlie Black, a former adviser to both Presidents Bush.

APCO advises holding company Manatep, Yukos’s principal shareholder. Brunswick has advised Yukos in the UK since September 2001. The account is lead by Brunswick partner Patrick Handley.

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