Word: oligarchs
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CONVICTED. MIKHAIL KHODORKOVSKY, 41, former chief of Russian oil giant Yukos, who became the country's wealthiest oligarch after the collapse of the Soviet Union; on charges including tax evasion and fraud; ending a nearly yearlong trial that critics claimed was part of a politically motivated campaign by the Kremlin to deter the billionaire from financing opposition to Vladimir Putin; in Moscow. Khodorkovsky, whose dwindled fortune was once estimated at $15 billion, was sentenced to nine years in jail...
...Sergei Markov, a prominent pro-Kremlin analyst, dismisses Belkovsky's predictions, recalling his past links with exiled oligarch Boris Berezovsky, a Putin nemesis. Markov acknowledges that Putin suffered setbacks in 2004, but says he remains "confident and in charge." But Mikhail Delyagin, a member of the pro-Putin nationalist political movement Rodina, agrees with Belkovsky's diagnosis. Putin's wobbly response to the pensioner crisis "shows he's not capable of comprehending the acuity of the situation," Delyagin says. And even if he was, Delyagin thinks he wouldn't be able to do much about it: "His team...
...industry executives describe the Yukos crackdown as an isolated event - a Russian oligarch incurred the wrath of the Kremlin because he got too big for his britches - not a concerted attack on the oil sector as a whole. Few top executives will talk about Yukos publicly, and most oil companies won't comment on their Russian investment strategies. But John Browne, BP's chairman, has defended his company's deal. When questioned earlier this year about the possible fallout from Yukos, Browne said: "At present, I would say - and I believe this will continue - that there has been no effect...
...industry executives describe the Yukos crackdown as an isolated event--a Russian oligarch incurred the wrath of the Kremlin because he got too big for his britches--not a concerted attack on the oil sector as a whole. Few top executives will talk about Yukos publicly, and most oil companies won't comment on their Russian investment strategies. But John Browne, BP's chairman, has defended his company's deal. "At present, I would say--and I believe this will continue--that there has been no effect" on BP's Russian venture from Yukos, he said earlier this year. That...
...company Yukos, on charges of embezzlement, theft and tax evasion has alarmed the international community [Nov. 10]. The shadow of Stalinist repression is getting longer, but this time it is being cast by Russian President Vladimir Putin. How will Russian economic growth be affected by the arrest of the oligarch who was working to open links with the West? So far, nothing has happened, because investors still think Russia is a good place to put their money. But time will tell if Khodorkovsky's arrest will herald a return to the Kremlin's old methods of control. Bruno Canal Pulido...