Introduction

The Yukos affair highlights the fundamental question of whether a rule of law exists in Russia. The timing of the decision by the Russian Procuracy (with the support of other law enforcement bodies) to bring criminal charges against former Yukos Chief Executive Officer Mikhail Khodorkovsky was not accidental. Despite Russian President Vladimir Putin's attempts to reassure foreign investors that the country remains economically stable as well as an attractive site for investment, investors will need to proceed with far greater caution when pursuing business opportunities in the ...