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Dutch court rules in favor of Yukos

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LONDON/HAGUE, November 24 (RIA Novosti) - An Amsterdam district court ruled Thursday to release foreign assets of embattled oil giant Yukos that had been temporarily frozen on an appeal by its former subsidiary.

The court rejected the appeal of Yugaskneftegaz, Yukos' former major production unit currently owned by state company Rosneft, to prohibit the sale of assets by Yukos Finance BV and Yukos International UK BV, two UK-based Yukos subsidiaries.

On October 6, Yuganskneftegaz managed to have Yukos' foreign assets temporarily frozen in an Amsterdam court.

The court lifted all restrictions on the sale of Yukos subsidiaries shares outside the Netherlands.

The court decision could help Yukos selling its controlling stake in Lithuania's Mazeikiu Nafta oil company.

Other important Yukos assets abroad include Slovakian Transpetrol pipeline company and Davy Process Technology, a UK company that provides licenses to operate advanced process technologies related to the manufacture of oil and gas, petrochemicals, commodity chemicals, fine chemicals and pharmaceuticals.

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