Volga | Finance, business

Yukos failure is Mordovia's $183m silver lining

11 Aug '08
In 2009-2011 Republic of Mordovia will receive $183m in federal funds to balance the budget which is sustaining losses following YUKOS' bankruptcy, Kommersant reported.

Fargoil, Yukos-M and Ratmir are YUKOS' three subsidiaries registered in Mordovia that have gone bust.

Apart from Mordovia, similar state support will be provided for Kamchatka Region ($171.2m), Republic of Chechnya ($687.4m) and Chukotka Autonomous District ($82.2m).
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