State eats oil company
The week's news at a glance.
Moscow
Russia re-nationalized a good chunk of its oil industry last week when the state oil company absorbed the oil production division of Yukos. The beleaguered private company has now been effectively dismantled. When the state investigation of Yukos began, 18 months ago, Russian President Vladimir Putin said that the company was being targeted because it owed billions in back taxes. But last month he said the state takeover was meant to make up for unspecified “injustices” that occurred during Russia’s wild transition from communism to capitalism. Critics said Putin was trying to punish Yukos owner Mikhail Khodorkovsky, who is now in jail for tax evasion, for getting involved in politics.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
7 tranquil hotels worth the trek
The Week Recommends Find serenity off the beaten path
By Catherine Garcia, The Week US
-
'From his election as pope in 2013, Francis sought to reform'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US
-
Israel blames 'failures' for killing of medics
speed read 14 Gaza medics and 1 U.N. employee were killed by IDF special forces
By Peter Weber, The Week US