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.
"The company thinks it is humiliating for the Russian legal system. We have no doubts about a final victory in this war. We consider this whole thing as a politically motivated affair."
- A Yukos Press Statement Commenting on the Russian Government's Actions Against the Company, in October 2003.1
"The state surely does not want to destroy the company."
- Vladimir Vladimirovich Putin (Putin), President, Russia, in November 2003.2
"The situation with Yukos, when one day it suddenly turns out that the leadership of one of Russia's biggest companies has been accused of stealing, killing, violence, embezzlement and, on top of all that, tax evasion, looks like a campaign."
- A Senior Official at Kremlin, in July 2003.3
Russia's Richest Man Goes to Jail
Yukos had been accused of various malpractices for quite some time, such as tax evasions and theft of state property (by Khodorkovsky and other Yukos executives).
Reportedly, many Russian business elite (called the oligarchs) feared that they might also meet the same fate as Khodorkovsky, for having indulged in similar practices during the 1990s.
"Russia tycoon held on fraud charge," www.cnn.com, October 25, 2003.
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