In the early 2000s, Bruce Misamore moved to Moscow to work for Mikhail Khodorkovsky at Yukos. Yukos was growing rapidly, but Russian President Vladimir Putin wasn’t pleased with the growing influence of Westerners on Russian companies. Putin saw threats to his power everywhere, and the government passed legislation limiting foreign investment. Misamore found himself in the middle of a hurricane. Join Loren Steffy and Bruce Misamore for the second episode of Putin’s Oil See more +
1. How Putin ousted Yeltsin supporters from their positions in return for a less democratic Russia.
2. The speed of growth Yukos experienced and how the owners and investors in the company began to think about diversifying economically and geographically. The company wanted to expand, and the fastest way to grow an oil company was to buy or merge with others.
3. The drawbacks of merging with another Russian oil company. Bruce talks about the challenges in making representations to the New York Stock Exchange and how he believed it would be impossible to provide the necessary transparency if Yukos acquired another Russian company.
4. The straw broke the camel’s back when it came to Khodorkovsky and Putin’s relationship. The Americanization of Yukos had gone too far.
5. What it was like for the employees at Yukos when Khodorkovsky was arrested—and what it meant for Russia’s economic future.
Tune in to the #PutinsOilHeist podcast to learn more about Episode 2: The Arrest in Compliance Podcast Network. See less –