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Russia Demands Extradition

Yukos Shareholders on the run...

Russia Demands Extradition

The Russian General-Prosecutor's Office has filed an international extradition request for two senior shareholders in Russian oil company Yukos, Leonid Nevzlin and Vladimir Dubov. The pair fled to Israel a few months ago. The General-Prosecutor's Office issued two arrest warrants, one valid in Russia, and the second through Interpol.

Nevzlin and Dubov fled from Russia to Israel after Yukos CEO Mikhail Khodorkovskiy was arrested on charges of fraud and tax evasion. He resigned from the company a few days after his arrest.

Following Khodorkovskiy's resignation, Nevzlin apparently became the controlling shareholder in Yukos in terms of voting rights, after Khodorkovskiy reportedly transferred his 44 per cent voting rights in the company to Nevzlin.

If the report is true, Nevzlin, an Israeli citizen, has voting control of the world's fourth largest oil company, in terms of market cap, and one of the largest in terms of oil reserves.

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