BREAKING NEWS ~ Russia auctions Yukos production arm, defying US bankruptcy order

BREAKING NEWS ~ Russia auctions Yukos production arm, defying US bankruptcy order

[JURIST] AP is reporting that the Russian government Sunday auctioned the core production unit of oil giant Yukos to Russian group Baikalfinansgroup for $9.3 billion in defiance of a US bankruptcy court injunction issued Thursday and upheld on appeal from potential Russian auction bidder Gazprom late Saturday. AP has more on the Saturday appeal here.

10:38 AM ET – From Russia, MosNews.com now has more on the auction sale in English.