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Sunday Express: London Stock Exchange ‘should have warned investors’ on Russia, says Yukos lawyer

Sunday 24 September 2006

THE lawyer of jailed Russian oligarch and former Yukos chief Mikhail Khodorkovsky criticised the London Stock Exchange for failing to warn investors of risks in trading with Russia, writes Jo MacFarlane. Robert Amsterdam, a founding partner of Toronto-based law firm
 
Amsterdam & Perroff, told the Financial Sunday Express the UK exchange was turning a “blind eye” to Russia’s “appalling record” on corporate governance.

The World Bank report, Governance Matters, published this month, ranked Russia 151st out of 200, on a par with Swaziland.
 
“What happened in Sakhalin strengthened the case for those in Russia to use energy as a weapon — which the West will continue to allow,” Amsterdam said. “That is why the World Bank report is so important but the silence that greeted it is staggering.

“The Kremlin has been turning regulatory staff into extortionists. They did it over Yukos, and now over Sakhalin. “The British Government and the rest of Europe allowed Russia to behave in a frankly shocking manner,” he added. “I never accept that Russia has leverage over Europe.”

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