On this day, employment issue split Yukos

On this day, employment issue split Yukos

The Moscow office of the Oil Company Yukos rebelled against fugitive London managers. The company “Yukos-RM” refused to follow instructions of Steven Theede. The website Prigovor.ru reminds its readers of what happened on March 7, 2006.

On this day 17 years ago, on March 7, 2006, it became known about the duality of power emerged in the Oil Company Yukos – Moscow and London offices were at odds about the ruling chair. The company, reported the press, was torn apart by internal contradictions. The Moscow leadership of Yukos is dissatisfied with the position of the upper management abroad and refuses to follow its instructions. The essence of the conflict, first of all, touched an employment issue, in particular, the distribution of key positions in the company “Yukos-RM”, one of the two managing firms, responsible for production, marketing of products and actual management of the production assets of the whole oil company. The question was about whose creature – London’s or Moscow’s – will be vice president on commerce.


The Moscow leadership of Yukos in the person of Anatoly Nazarov, the head of the company “Yukos-RM”, conducted an operative meeting, which went in “rough form”. As the newspaper “Kommersant” found out, in general, the head of “Yukos-RM” “is not going to follow instructions of situated abroad Yukos president Steven Theede and vice-president Yuri Beilin, as, according to him, the company cannot be managed from London”.

A pretext for the demarche of Mr. Nazarov were his insurmountable differences with the situated in London Yukos president Steven Mikhael Theede, pertaining to a possible candidate for the position of the first vice-president of “Yukos-RM” on commerce. Nazarov appointed to this position Stanislav Vinokurov, but Steven Theede insisted on the candidature of Roman Khomenko. Both candidates were from the JSC “The Trading House “Yukos-M”, an affiliate trader of Yukos, responsible for wholesale of oil products inside Russia.

As the newspaper pointed out, “these differences take place against the backdrop of the increased in the recent time pressure on the company from the side of low enforcement agencies. For instance, yesterday for interrogation in the Office of the Prosecutor General was summoned Mr. Khomenko, as well as – for the first time – Frank Rieger, Yukos finance director, the sole from foreign top-managers who has not left Russia”.

After Khomenko and Rieger had visited investigators, Khomenko quitted the job, and Rieger resigned and left Russia “on principal considerations”.

Obviously, they were informed about court perspectives of the second criminal case of Platon Lebedev and Mikhail Khodorkovsky on accusation of oil embezzlement and money laundering. Thereat, Khomenko, who dealt with marketing of products of the oil empire, remained in testimonial capacity. ”There were no criminal acts in my work, nothing was imputed to me”, he said.

“Yukos former vice-president Roman Khomenko managed in Yukos marketing of oil products. Now he is a traveler, and seldom comes to Russia” wrote the newspaper “Kommersant” in June 2013.


There were no charges either brought against Frank Rieger from Germany, yet he considered himself to be a very “valuable witness”, and “were he to be given a chance to plead, Khodorkovsky would be vindicated”. But he expressed his view only in the press, telling the myth that “it’s physically impossible to steal such quantity of oil”, although he clearly understood that the embezzlement had been carried out through juridical procedures, by way of formalizing papers and documents that was not reflected in warehouse inventory control of products.

This is clearly pointed out in the verdict of the Khamovnichesky Court of Moscow from December 30, 2010. Apart from that, in his stories about the “transparent” Yukos, where everybody tried “to save the company”, Rieger didn’t say anything about the conflict between Moscow and London leaderships, what, surely, had an impact on the collapse of the Oil company Yukos.


“By the way, after the company Yukos, at the suggestion of its creditors, had come through the bankruptcy procedure, materials were handed over to the investigative agencies based on internal inspection and related to misappropriation of pecuniary means of “Yukos-RM”, Anatoly Nazarov received a three years suspended sentence for embezzlement of 2.5 million rubles. The essence of the machination is in making false contracts with a law firm which provided legal services while preparing a shareholder meeting when, actually, there was a dual power in the company. The story as old as time – a thief wanted to steal from thieves”, notes the website Prigovor.ru.

(See also the previous article “On this day, a gang of murderers from Yukos was put on trial”. The killer brigade from Yukos – Alexey Pichugin and five henchmen. Criminal cases No214361 and No127236. The website Prigovor.ru reminds its readers of what happened on March 6, 2006.

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