IMF: Yukos affair should not negatively impact economic development in Russia

The situation surrounding Russian oil company YUKOS should not have a negative impact on the investment climate and development of the economy in Russia, said International Monetary Fund (IMF) Managing Director Horst Keller in a press conference on November 13. 'President Vladimir Putin convinced me that there will be no departures on the road to market reforms and economic growth in Russia,' said Keller. He added that if Putin's statements about the superiority of the rule of law and reforms to the system of administration will be realized, then there should be no negative consequences to the investment climate in the country.

At the same time, Keller said that 'he is truly worried about how the General Procurator's Office is handling the YUKOS affair. 'But I have no experience in how to solve such a problem,' he said. 'We don't think that the YUKOS affair should be handled outside the jurisdiction of the country. We will continue to follow the process of events and possibly give a recommendation,' said Keller.