Word: putin
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...Putin has said he wants to encourage Western investment in Russia and has no intention of destroying Yukos. Russian officials say the back-taxes claim is based on an official audit...
...time for an oil rush. The West's leading oil companies are making a run for Russia just as President Vladimir Putin consolidates his power and reasserts control over the energy business (among other things). In recent months, Putin has muzzled the independent press and abolished popular elections of regional governors. Western companies may rationalize that increased government control over the press won't affect their deals, but interference in the economy--increased restrictions on foreign ownership, the assault on Yukos and big shifts in taxation--has raised concerns about Putin's commitment to the rule of law. Many Russians...
...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 ties in with a common theory in Moscow that Khodorkovsky ran afoul of President Putin because he climbed into politics by financing opposition parties in last year's election...
...back on its feet, and despite the earlier disputes, BP agreed to team up with Alfa to do the much bigger TNK deal. To help mitigate the political risk, BP took pains to keep the Russian government informed, and the final agreement was signed during a state visit by Putin to Britain. "Clearly, we needed to make sure the Russian state was not surprised by anything we did at any stage," says an executive involved in the transaction...
...relations with China are as comfortable as they've been in decades, President George W. Bush will have plenty to discuss with his counterpart, Hu Jintao. Yet the first thing he'll want to do is take stock of Hu himself?much as Bush searched for friendship in Vladimir Putin's eyes at their first meeting, in Ljubljana in 2001. Hu still hasn't visited the United States since assuming the presidency in 2003, and remains as enigmatic to Americans as he does to his own people. He has made three trips to Eastern and Western Europe and members...