MOSCOW (AP) — The arrest of a Russian telecoms and oil tycoon has sent shock waves through the country’s business community, with some fearing a return to the dark days of a decade ago, when the Kremlin asserted its power by imprisoning the country’s then-richest man and expropriating his companies.
Market watchers are almost unanimous in saying that Yevtushenkov’s house arrest is a move by the government and state-owned oil giant Rosneft to take control of his oil company, Bashneft.
Investor confidence in Russia has been battered this year by concerns over the economic consequences of Moscow’s hard line in the Ukraine …read more
Source: San Francisco Chronicle
