Friday

29th Mar 2024

EU warns Russia over Yukos affair

Just days before an EU-Russia summit, the EU today warned Moscow that the way it is dealing with the Yukos affair will be a "test case". Brussels is hinting that trade relations will depend on its outcome.

"It seems that the way the case has been run up until now is way off what we would consider acceptable", said Commission spokesperson Diego Ojeda.

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"That could threaten the process we are trying to achieve with Russia in building a European economic space", he added.

The affair relates to the detention of Mikhail Khodorkovsky, who, until today (4 November), was the head of Yukos, one of the biggest energy firms in Russia, and who has been in prison since Saturday.

Allegations that Mr Khodorkovsky's arrest was linked to his backing of opposition parties or talks with foreign investors have prompted the EU to intervene.

The test

The Commission is now insisting that the matter be dealt with in a "proportional, objective and fair manner".

The Commission's head of Russia policy Gerhard Lohan told journalists, "This is a test case for the rule of law in Russia, the operation of the judiciary system, the right of defendants to get fair and full hearings, but also beyond that it is also obviously a question of how the investment climate will develop".

"We have been trying to build a common economic space with Russia for the last three years ... this however can only be achieved in reality if we find common ground, or if we do in practice share some of the values which we preach, such as the rule of law", the Commission's spokesman said.

Only last month, the EU and Russia reached a deal on the basic outline of such an economic space. However, with the risk of international investors getting the jitters - putting at risk billions in European investments - this project has hit a bump.

BP (British Petroleum) alone has planned to invest 7 billion US dollars in a 50/50 enterprise with Russian investors, with one billion being invested next year alone.

Many other European firms have also made substantial investments.

Tardy

"It comes relatively late", Steven Everts of London-based Centre for European Reform told the EUobserver.

"The EU seems to have firmed up its position ... but what is required now is that the member states stand behind this".

The EU does have a habit of tough talking at an EU level with the member states backing away, Mr Everts added.

"At a bilateral level Blair, Schröder and Chirac all think that they can handle Putin and of course they can't, Putin is quite a shrewd figure".

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