Putin's behaviour is scaring off investors

Forget Enron, WorldCom or Parmalat Finanziaria. They were corporate collapses with consequences that...

Forget Enron, WorldCom or Parmalat Finanziaria. They were corporate collapses with consequences that were limited to the energy business, the telecommunications industry and the dairy trade. The potential bankruptcy of the Russian oil giant Yukos is a story written on a far larger canvas. For more than a year, the company has been battling with the government of Vladimir Putin over a $3.4bn bill for taxes and fines. And the biggest shareholder of Yukos, Mikhail Khodorkovsky, faces a trial on charges of tax evasion and fraud. Few believe Yukos can survive much longer. Earlier this month, t...