Word: khodorkovskyã
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First there was Gusinsky; then came Berezovsky; now it’s Khodorkovsky??€™s turn to face the Kremlin’s fickle wrath. The list of media moguls and industry titans that Russian President Vladimir Putin has tried to arrest continues to grow. This time it looks like Putin is after the brass ring—Mikhail Khodorkovsky, Russia’s richest man and owner of OAO Yukos, the fourth largest oil company in the world. As in earlier arrests, the Russian government claims that the oil tycoon violated regulations during the fast-and-loose privatization...
...Khodorkovsky??€™s likely imprisonment is not just a tragic prospect for Russia’s wealthiest individual. Russia will lose its most trusted entrepreneur, which will make foreign investors more cautious. It has taken years for the Russian economy to buck the perception of dysfunctional cronyism; the latest ham-fisted attack on the most prominent Russian industrialist—and its seizure of 44 percent of Yukos—only makes the business climate more unpredictable and unattractive. Indeed, capital has once again started to flee from the country, and it now looks as though an anticipated merger...
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