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MOSCOW, Dec. 29 (UPI) -- The former head of Russia's once-mighty Yukos oil group said President Vladimir Putin's drive to liquidate the company has been destructive and senseless.
Mikhail Khodorkovsky, jailed for 15 months and still awaiting trial on fraud, tax evasion and embezzlement charges filed after he funded opponents of Putin, said the Kremlin's decision to dismember Yukos was "the most senseless and destructive event for the economy in all of President Vladimir Putin's time in power," the Financial Times reported.
His comments came as Standard & Poor's lowered the company's credit rating to default after it missed an interest payment. The company is now worth less than $2 billion contrasted to more than $40 billion last year.
Earlier this month the Kremlin used a stalking horse to buy Yukos' main oil producing division, which it then merged with a state-owned energy company.
"The Yukos case isn't a conflict between business and state, but a politically and commercially motivated attack launched by one business, represented by officials, against another," Khodorkovsky said.
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