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President Vladimir Putin called for an end to the “speculation and hysterics” surrounding the affair with oil company Yukos. Speaking at a meeting with the government at the Kremlin, the President said he did not plan to meet with business community representatives on this issue. Mr Putin also emphasised that this affair should in no way be seen as setting a precedent, or giving rise to analogies and generalisations with regard to the results of past privatisations

October 27, 2003

Commenting on the arrest of Mikhail Khodorkovsky, the President said that only a court can decide this issue, and that everyone is equal before the courts and the law. This equality before the law is essential if Russia is to operate an effective taxation system.

Mr Putin instructed the government and the Presidential Administration to develop a special system for fighting corruption on the lines of the systems other countries have put into place. The President admitted that much still has to be done to improve law enforcement work. But the country has already adopted a democratic and legally regulated system of taking decisions in the criminal law sphere.

October 27, 2003