Russian PM calls YUKOS license probe ''intolerable''
Russian Prime Minister Mikhail Kasyanov on Friday said a ministry probe which could strip oil production licences from embattled major YUKOS was "intolerable".
The Ministry of Natural Resources is checking licences held by a YUKOS subsidiary in Siberia's Tomsk region for possible breaches of contracts.
"In relation to creating an atmosphere of threat, I think this is intolerable. The ministry has received the necessary orders and will receive additional orders," he told reporters in the town of Nizhnevartovsk in Western Siberia – the heartland of Russian oil production. Top YUKOS shareholder and Russia's richest man Mikhail Khodorkovsky was arrested three weeks ago, as part of a broad legal assault on YUKOS which is seen by analysts as an attempt to rein in the tycoon's political activities.
YUKOS shares have plummeted since the arrest and a large part of them were frozen – an action Kasyanov had earlier said he was deeply concerned about. Some investors have said the uncertainty surrounding the case could keep foreign money out of Russia.
Kasyanov said the checks on YUKOS would increase business fears. "As for scheduled tests, they must go ahead. But it is not correct to make a fuss and move all the inspectors to one place. The usual planned work must go on, but no more," he said. Last week, President Vladimir Putin also voiced his concerns over steps to take away licences from YUKOS, saying they would be inappropriate. //Reuters
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