Friday, 25 October 2013

Guest post: Yukos and state-sponsored corruption in Russia | beyondbrics

Guest post: Yukos and state-sponsored corruption in Russia | beyondbrics:

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By Bruce Misamore

Ten years ago this month my friend and business colleague, Mikhail Khodorkovsky, was arrested at gunpoint in Novosibirsk – the start of a chain of state-sponsored intimidation and corruption in Russia. There is no doubt that the hand of Vladimir Putin and the Kremlin was very much at the steering wheel for this very public and televised event. The shock of this political act reverberated around the world – no more so than in the boardroom at Yukos Oil Company headquarters.

At that time Yukos was a primary engine of the Russian economy with over 110,000 employees and tens of thousands of shareholders around the world expecting us to propel forward Russia’s most successful company. Never did we think we would find ourselves at the mercy of an intensely powerful and contrived campaign of obfuscation and intimidation orchestrated by various Kremlin organs; a campaign wherein billions of dollars of shareholders assets were stolen."

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