"The court has set bail for Aleksanyan at 50 million rubles and he will be released from custody after the money is received," the court said in a statement.
The court overturned the decision of Moscow's Simonovsky court on October 20, which extended the custody of Vasily Aleksanyan, who has already been behind bars for two years and eight months, until January 22, 2009.
Aleksanyan, 36, diagnosed with AIDS and cancer, is accused of embezzling about $330 million from former Yukos production unit Tomskneft and shares worth $493 million from other oil companies, as well as laundering stolen assets.
Meanwhile, Aleksanyan's lawyer, Yelena Lvova, filed a request asking the Simonovsky court to close the criminal case regarding her client's criminal activities in 1998 because the statute of limitation has expired.
The prosecution earlier insisted Aleksanyan undergo medical treatment in jail. However, a Moscow court suspended Aleksanyan's trial due to his deteriorating health.
Yukos collapsed after claims of tax evasion in 2004 which led to the company being broken up and sold off to meet creditor claims. The bulk of its assets were bought through liquidation auctions by government-controlled oil company Rosneft. Yukos officially ceased to exist in 2007.
