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Russian official: tycoon verdict hurts investment

Russian official: tycoon verdict hurts investment

January 19th, 2011 in News

MOSCOW (AP) - An economic advisor to Russia's president says the new prison term for ex-oil tycoon Mikhail Khodorkovsky will hurt Russia's investment image.

A judge ruled on Dec. 30 to keep Khodorkovsky behind bars for six more years for stealing almost $30 billion worth of oil from his own company and laundering the proceeds. Critics say the case was politically motivated.

Arkady Dvorkovich, an economic aide to President Dmitry Medvedev, on Wednesday made a veiled admission that the case is bad for Russia's investment climate.

He told a Russian news website that country is expecting questions on the case from international investors at the World Economic Forum in Davos next week and that the "risk outlook for Russia will be raised."