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Moscow's RTS bourse stops trading Yukos shares

MOSCOW, November 13 (RIA Novosti) - The Russian Trading System (RTS) stock exchange stopped trading in Yukos shares on Tuesday, a day after a court ended the bankrupt oil company's liquidation process.

The Moscow Arbitration Court ended the process following a request from the bankruptcy receiver, Eduard Rebgun. Overall, Yukos has paid off more than 710 billion rubles (about $28.4 billion) to its creditors out of proceeds from liquidation auctions, and defaulted on claims worth 76 billion rubles (about $3 billion).

Yukos, once Russia's largest oil company, was declared bankrupt on August 1, 2006, after three years of litigation with tax authorities over arrears. Its founder, Mikhail Khodorkovsky, is serving an eight-year prison sentence in Siberia for fraud and tax evasion.

The liquidation of Yukos was widely seen as part of the Kremlin's drive to regain control over the country's oil and gas sector. Most of the company's main assets fell into the hands of Rosneft through the liquidation process, making the state company Russia's largest oil producer.

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