China National Petroleum Corp (CNPC) is reportedly the latest victim of the Kremlins fight against Yukos with the Russian oil giant unable to pay transport and customs costs due to its legal troubles with the taxman.
Yukos has allegedly suspended exports to CNPC, which were due to reach one million tons before the end of the year, although around 750,000 tons of oil deliveries to fellow Chinese firm Sinopec are not thought to be affected.
The company’s transport expenses and customs payments total US$150-US$170 per ton, a price Yukos cannot bear due to its limited access to bank accounts.
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