Friday, July 01, 2005


This tech central article brought to light some of the issues surrounding the Yukos case in Russia and puts a postive spin on the entire trial and the outcome.

It still seems really fishy to me. I do not claim to understand everything that went on, but I thought that Yukos (the oil company) was taken over by Russia. Which it was.

"Although Yukos was a singular case of the state reversing a previous privatization result, this reversal was incomplete, Instead of merging the purchaser of Yukos' assets, Rosneft, with the state-controlled Gasprom monopoly, Kremlin left Rosneft to compete with the gas monopoly. By the end of the year Rosneft will be floated at the stock exchange, and both, Rosneft and Gasprom will see lifting of restrictions on foreign ownership of their shares."

I know in America the goverment does not take over the company, the company just gets bought out by another one if they declare bankruptcy, which Yukos did not do. It seems like the goverment too over the Yukos then released the company into the wild (free market), or at least plans to. I guess we will have to see what happens here.


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