The sentence reductions for former Yukos Chief Executive Officer Mikhail Khodorkovsky and former director of Menatep Platon Lebedev were made to bring them into accordance with sentencing guidelines. The law envisions lesser penalties for a number of penal code articles, ITAR-Tass reported.
Both men's sentences were cut short by one year, nine months.
The court head denied defense lawyers' motions to either drop the criminal case or release Khodorkovsky and Lebedev for time served.
Lebedev will be set free in August 2014 and Khodorkovsky, October 2014.
Texas principal bans speaking Spanish, stirs controversy
Britney Spears on kissing Ryan Gosling, Justin Timberlake in the Mickey Mouse Club