The Russian Oil Giant Yukos - When Business and Politics Collide
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
Russia's Richest Man Goes to Jail Contd...
Interestingly, through all this, Yukos stood by Khodorkovsky. Its directors issued a statement to this effect, and it read, "The board declares its full support and belief in the management of the company and states its certainty that a fair and open court hearing will find the arrest of Mr Khodorkovsky illegal and all accusations against him groundless."6
Russia, ITS Oil Industry & The Oligarchs
To understand the story of Yukos, it is extremely important to study the evolution of Russia's political and economical climate over the decades.7 Also, the role played by the country's oil industry in the above evolution needs to be clearly understood.8 Under the socialist regime that began under Vladimir I. Lenin (Lenin) in the 1920s and flourished under Joseph V. Stalin (Stalin), the Russian government had acquired control of all the industries. The oil industry too was nationalized by the communists and functioned as a state-run entity.
"Russia freezes Yukos shares," http://news.bbc.co.uk, October 30, 2003.
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