American businessmen consider Russian economy stable despite Yukos scandal

'American investors and businessmen are satisfied with the stability of the Russian economy and stock market despite the negative situation that has developed around YUKOS,' Igor Kostikov, chairman of the Russian Federal Securities Commission, has announced. According to the commission's press office, he made this announcement in the US after a meeting with representatives of the US Securities and Exchange Commission, the Public Company Accounting Oversight Board and the Commodity Futures Trading Commission.

Mr Kostikov said that American investors are interested in the Russian stock market, which is quite profitable at present. 'Effective application of the law is the key to increasing investors' trust,' Mr Kostikov said. 'Existing laws will allow us to protect investors' rights if we use them to prevent crime in Russia and abroad.'

Before leaving Mr Kostikov will travel to New York to meet representatives of banks, stock exchanges and leading politicians and journalists.

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