In addition, Tomskneft tax debts to the regions would be automatically frozen for one year in case of bankruptcy. The region has withdrawn its suit, which would have been heard December 11. In an effort to stop the wave of oil bankruptcies in the regions Fuel and Energy Minister Sergei Generalov has submitted a draft law to the government which would impose a moratorium on bankruptcies until 1 April 1999. The information contained herewith is based on information made available to the public and is for information purposes only. Information sources are deemed reliable by RMG Securities, however RMG Securities abstains from any liabilities determined from the information herewith.
Analysis is based on dated market information and is subject to change.