By Catherine Belton
Staff Writer

Yukos is refusing to pay the $3.4 billion tax bill that the Moscow Arbitration Court upheld in a landmark ruling earlier this week and is proposing to pay one-third of that sum instead, a source close to the company said Wednesday.

The tough stance on settlement came as the embattled oil major continued to wait for an order from the Federal Tax Service enforcing payment of the bill. The order could come within a week and lead to asset seizures or bankruptcy, as the company does not have enough cash to immediately pay it in full ......
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