Arrest of Russia's richest not to affect Sino-Russian oil trade: Russian Deputy FM

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Last updated at: (Beijing Time) Friday, October 31, 2003

Arrest of Russia's richest not to affect Sino-Russian oil trade: Russian Deputy FM

The arrest of Mikhail Khodorkovsky, president of the oil company YUKOS will not affect the reform process of Russia, let alone hinder the oil trade between Russia and China, according to Russian Deputy Minister of Foreign Affairs Andrei Denisov.

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The arrest of Mikhail Khodorkovsky, Russia's richest man and president of the oil company YUKOS will not affect the reform process of Russia, let alone hinder the oil trade between Russia and China, according to Russian Deputy Minister of Foreign Affairs Andrei Denisov, who was attending the Forum on Shanghai Expo 2010 on October 29.

YUKOS company headed by Khodorkovsky has always been supporting the China-Russia Far East Angarsk-Daqing Pipeline Project, and has signed an agreement with China, hence the worry among outsiders that the plan would be affected by the arrest of this oil tycoon.

Russian Deputy Minister of Foreign Affairs Andrei Denisov said that the arrest indeed affected Russia but would not have a great impact on the development of Russia's oil industry nor would it affect the cooperation between Russia and other countries in this field. The first and foremost is China because China is Russia's largest and most important oil trade partner in Asia and Pacific region. With regard to the schedule of the pipeline construction, Andrei Denisov said that it will be fixed by Russian and Chinese governments through negotiation. When answering whether the Khodorkovsky event will, as analyzed by outsiders, affect the reinvigoration of Russia's economy, Denisov said that the initiative of reinvigorating Russia's economy is in the hands of the government not in any individual enterprise. Russia will not slow down its overall economic reform and opening to the outside world for some individuals' criminal behavior.

By PD Online staff Gao Lanrong

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