Yukos CEO resigns
Mikhail Khodorkovsky, head of the Russian oil giant Yukos, arrested and jailed last week on charges of fraud, has resigned as the company’s chief executive.
Yukos shares rose by almost four per cent on the back of the news.
Shares ended the day up 12 per cent at £7.50.
The crisis has produced much uncertainty in Russian and plunged the stock market down some 15 per cent.
Announcing his resignation, Mr Khodorkovsky said: “As the leader, I must do all I can to free our work collective from the blow aimed against me and my partners.
“I am leaving the company.”
Russian President Vladimir Putin has also been dragged into the affair. Critics claim Mr Khodorkovsky’s arrest was inspired by the Kremlin as ministers feared his willingness to fund parties opposed to Mr Putin.
Defence lawyers are considering appealing to the European Court of Human Rights in Strasbourg over an apparent violation in the criminal cases brought against Mr Khodorkovsky.
Separately, Russian prosecutors announced they are to investigate the 1995 privatisation of oil company Sibneft.
Roman Abramovich, Chelsea football club boss, is believed to have amassed much of his fortune there.
