Court to rule on Khodorkovsky arrest

A Moscow court is due to rule whether Russia's richest man and former head of YUKOS, Mikhail Khodorkovsky, should remain in jail where he was lodged on charges of tax evasion and fraud.

    Khodorkovsky punished for his political ambitions, say analysts

    The Prosecutor General's Office has said it wants to detain Khodorkovsky until 30 December. When the court gives its ruling on Tuesday, few expect it to agree to

    the request to release him on bail.

       

    "News is unlikely to be a major surprise," said Konstantin Sharapov, a trader at Alfa Bank.

       

    The hearing is due to start at 1300 GMT.

     

    Conflict

       

    The conflict between the Kremlin and YUKOS erupted in July, when police arrested one of YUKOS's key shareholders Platon Lebedev. Khodorkovsky was arrested on 25 October and a few days later prosecutors also impounded a major stake in YUKOS

    belonging to Khodorkovsky and his allies.

       

    Analysts say the move has been orchestrated by the Kremlin to punish the billionaire for his political activities and support for liberal opponents of President Vladimir Putin in advance of parliamentary and presidential elections this and next year.

     

    The conflict between Khodorkovsky and the Kremlin, which is seen as behind the detention of the oil tycoon, has shaken confidence among investors in Russia and triggered concerns it may signal a rise in state interference in business.

    SOURCE: Reuters


    YOU MIGHT ALSO LIKE

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.