Thu, Dec 25, 2003 - Page 6 News List

Khodorkovsky handed more jail time

OIL TYCOON The lawyers for Russia's richest man said they would appeal an order extending pre-trial custody of their client, accusing the court of favoring the prosecution

AFP , MOSCOW

The 40-year-old businessman, whose company has been under the blows of prosecutors since June, appeared in court for the second day of closed-door proceedings, locked behind a metal cage in the courtroom.

The future of Yukos, Russia's largest oil producer, has seemed increasingly in doubt with all of its main shareholders either in jail or in exile.

The company was forced to abort a merger with rival Sibneft that would have created the world's fourth-largest oil major and faces the threat of a US$5-billion tax bill and being stripped of its oil production licenses.

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