Russia's economy minister lashes out at Yukos re-nationalization

0 Comments | AFP, January, 2005

MOSCOW (AFP) — Russia's liberal economy minister joined a growing backlash against the effective re-nationalization of the country's top oil exporter Yukos and argued that state energy companies should be privatized.

Economic Development and Trade Minister German Gref is seen as one of the few die-hard liberals in President Vladimir Putin's government and he followed closely in the steps of a now-demoted Kremlin aide by arguing that the demise of Yukos only hurt Russia.

The company's main asset Yuganskneftegas fell into state hands following a bizarre December 19 auction.

A subsidiary that pumps as much oil as the US state of Texas is now held by a mystery state holding company.

In fact Yugansk is nominally controlled by Rosneft -- which is merging...

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