Yukos accuses Rosneft of 'illegal seizure'

NEW YORK - Battered Russian oil firm Yukos has said that Russian state oil firm Rosneft's assumption of control over key unit Yuganskneftegaz was tantamount to an "illegal seizure" of its asset.

In a statement, Yukos said that the Russian Federation "chose to ignore the rule of law, both in Russia and internationally, by facilitating Rosneft's illegal seizure of Yuganskneftegaz."

Yukos accused the state firm of violating the stay issued by a US bankruptcy judge, adding that it "will pursue all legal and commercial actions in appropriate forums to recover damages caused by this expropriation."

Yukos filed for bankruptcy in the United States in order to prevent the sale of the unit, and has vowed to pursue claims against anyone involved in its sale.

- REUTERS