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Rosneft buys last of Yukos

Moscow - State-run oil major Rosneft on Thursday paid almost $230m (€167m) at auction for some of the last remaining upstream assets of bankrupt oil firm Yukos, once Russia's largest company.

Rosneft secured the assets, linked to oil fields in eastern Siberia, for 5.8bn rubles after a two-minute auction at Yukos' former headquarters, news agency Interfax reported.

The sale was one of the last in a series of auctions to pay off over $26bn in debts to creditors, which crushed the energy empire once run by jailed oligarch Mikhail Khodorkovsky.

All of Yukos' major assets have already been sold.

Critics have interpreted the fate of Yukos as a Kremlin-controlled campaign to win back energy assets for state companies and block the politically ambitious Khodorkvosky, who is now serving an eight-year prison sentence in Siberia for fraud.

Rosneft has been the main beneficiary of Yukos' destruction, winning billions of dollars' worth of Yukos assets at auction and growing into Russia's largest oil firm.

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