Former Yukos CFO Says Rosneft’s Success Built on Stolen Assets
Amidst news of recent a joint-venture between Russia’s state-owned oil company Rosneft and ExxonMobil former Yukos CFO Bruce Misamore published a report yesterday in The Washington Times stating that Rosneft’s recent deal was only made possible through its illegal acquisition of Yukos Oil. Misamore said:
“Rosneft was among the parties to most benefit from bogus auctions of multibillion-dollar assets and the sham bankruptcy and expropriation of Yukos, once Russia’s largest, most transparent, best-governed and most profitable oil company. From the beginning, Rosneft played a key role in Yukos‘ demise. Today, former Yukos assets make up more than three-quarters of Rosneft’s value.”
Misamore adds that his claims are justified by the European Court of Human Rights ruling stating that Yukos had been forced into bankruptcy by illegal tax and court actions. He says that Yukos has imminent plans to seek significant reparations from Rosneft, reminding the world that Russia has not always been friendly to business. Misamore said:
“Russia stole Yukos, and everyone knows it. Russia hopes this deal will go forward without a fuss. More than 50,000 Yukos shareholders and individual and institutional investors in the United States and elsewhere were wrongly deprived of their investment by illegal Russian actions. A fuss must be made. Shareholder voices must continue to be heard.”
