RussNeft, one of Russia's fastest-growing private oil companies, is set to pass into state-friendly hands after months of investigation by the tax authorities, in a move analysts say has echoes of the Yukos case.

Basic Element, the holding company of billionaire Oleg Deripaska, and Russia's Federal Anti-Monopoly Service confirmed late on Friday that entities linked to Basic Element had sought permission to buy the mid-sized oil group.