Putin vs. the Tycoon

Was Russia's richest man arrested for mounting a political challenge to the country's President?

In Russia's first years as a market economy, crooks and businessmen were one and the same. But Mikhail Khodorkovsky, 40, the richest man in Russia, was a self-imposed reform movement. His Yukos Oil Co. enjoys a reputation among foreign investors as perhaps the most Western-like company in Russia. It has a cluster of Americans on its board; among top management, it uses U.S. accounting standards; and it was the first Russian company to detail its precise ownership structure. Yukos has been talking with both ExxonMobil and ChevronTexaco about the possible sale to one of them of as much as 40% of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!