Menatep Files Suit Against Russia

Yukos owner, Menatep has filed a $28.3 billion suit against the Russian government for damages after it seized and sold Yukos. "We served a notice of arbitration on the Russian Federation ... That number (of $28.3 billion) will get more precise as we go through the forensic accounting exercises to calculate the loss of profits," said Menatep's managing director, Tim Osborne. "At the moment, that figure is the loss of share value from its (YUKOS stock) peak to today plus an estimate of what we think the share price would have been had the Russian government not interfered." Russia confiscated Yukos' main oil-producing unit, Yuganskneftegaz, and sold it for nearly $9.3 billion to Rosneft which is state-owned . According to a murdok | Breaking eBusiness News Your source for investigative ebusiness reporting and breaking news.