June 7th, 2012

Khodorkovsky cites economic challenges in calling for annulment of his conviction

Mikhail Khodorkovsky in 2010

In a letter this week to the head of Russia’s Supreme Court, former Yukos chief Mikhail Khodorkovsky called for the annulment of his second conviction on trumped-up charges.

Last month a lower Supreme Court judge upheld the sentence, originally handed down in 2010. Late last year Khodorkovsky completed the term of his first conviction.

Khodorkovsky notes in the letter that his case “has acquired a symbolic meaning for millions of entrepreneurs, executives and all the educated and concerned citizens of Russia” – themselves harmed by the outcome of his case, as “thanks to it, the rate of much needed economic growth has been lost.” Russian equities continue to lag behind their BRIC counterparts thanks to what a number of analysts have termed the “Khodorkovsky discount.”

More on Khodorkovsky’s letter here. Read the full text of the letter here.

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