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Yukos bankruptcy receiver nominated for Rosneft board

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MOSCOW, March 7 (RIA Novosti) - The Yukos bankruptcy receiver has been approved as a candidate for the Rosneft [RTS: ROSN] board, the state-controlled oil producer said Wednesday.

Rosneft's board has approved 11 candidates for nine board seats, who will be considered at the annual meeting.

Yukos, once Russia's largest crude producer, was declared bankrupt August 1 after three years of litigation with authorities over tax arrears.

The Yukos group, whose founder Mikhail Khodorkovsky is serving an eight-year prison term for fraud and tax evasion, now faces multi-billion dollar claims from creditors, including Rosneft-owned former production unit Yuganskneftegaz, the Federal Tax Service, Rosneft and more than 20 other companies.

Evaluators put the value of Yukos assets awaiting liquidation at $22 billion, about $4 billion below the total claimed by creditors against Yukos.

Rosneft said earlier it might buy additional assets from Yukos to optimize its balance between oil refining and production. Energy giant Gazprom is also expected to dominate the Yukos asset auctions.

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