Russian oil major Yukos has lost its latest bid to stall payment of a $3.4 billion (€2.7 billion) tax bill that it says could push it into bankruptcy.

A Moscow court set September 6th for Yukos to appeal an earlier ruling that it had to pay the bill. But it also said that, until the September hearing, Yukos would still have to comply with the earlier order for immediate payment. That means the company will remain vulnerable to its assets being seized by bailiffs.

The September hearing will be Yukos's second appeal against a court order to pay 99 billion roubles in taxes and fines for the 2000 financial year.

A separate Yukos attempt to appeal the tax ministry's claim of back taxes failed when proceedings were suspended in the same court because the judge stepped down. Judge Olga Mikhailova said she considered media reports of the trial as an attempt to apply pressure on the court.

The arbitration court ruling came as Yukos former chief executive Mr Mikhail Khodorkovsky prepared for another day in court today on charges of fraud and tax evasion. He and co-defendant Mr Platon Lebedev have pleaded not guilty to the charges.

Apart from the $3.4 billion bill for 2000, tax authorities are also demanding that Yukos pay a similar sum for 2001. Analysts predict that when audits of 2002 and 2003 are ready the total figure could rise above $10 billion.

Yukos said last week it would begin paying $1.3 billion towards its 2000 bill, but a freeze on its bank accounts would hamper paying more.