Swiss partially unblock Yukos funds

Switzerland’s Federal Court has ordered officials to unblock $1.6 billion (SFr2 billion) in funds frozen as part of a probe into the Russian oil company, Yukos.

The move comes after the court accepted an appeal brought by lawyers representing the jailed former boss of Yukos, Mikhail Khodorkovsky

On Friday the Federal Court disclosed that it had upheld one of a series of appeals against the freezing of bank accounts blocked at the request of the Russian authorities, but gave no further details.

Five other appeals connected to the case have been rejected, while four more are still pending.

A spokesman for Philippe Neyroud, a Geneva-based lawyer representing Khodorkovsky, said the successful appeal freed the assets of a subsidiary of Menatep Holding, which controls Yukos.

Khodorkovsky is due to appear before a court in Moscow on June 16. Both he and an associate, Platon Lebedev, stand accused of fraud and fiscal evasion.

HERE