Russia: president of Yukos resigns

Russia:  president of Yukos resigns
Russia: president of Yukos resigns

Theede said he had "exhausted all possibilities ... to either preserve or recover value for the company as a result of the expropriation of Yuganskneftegaz," referring to the giant West Siberian production unit that was sold at a disputed auction in 2004 against Yukos' crippling, multibillion-dollar back tax claims.

He mentioned in particular his inability to stop this week's initial public offering of the state-controlled OAO Rosneft company on the London stock exchange; Rosneft was the company that ultimately acquired Yuganskneftegaz, according to the AP.

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