Robert Amsterdam is an outspoken lawyer who defended Mikhail Khodorkovsky, the jailed oil oligarch in Russia who last week lost his bid for parole. Amsterdam (of Toronto law firm Amsterdam & Peroff ) warns that Canadian corporations, like Magna International or Petro-Canada, that do business in Russia or with Russian entities are endangering their shareholders by so doing.
He argued, as I have, in favour of a ban preventing Russians from owning Canadian entities or assets until Moscow demonstrates that foreigners are protected in its country.
Examples are commonplace. Yesterday, Moscow officially sanctioned Robert Dudley, British chief executive of a Russian-BP PLC partnership, after driving him out of the country on trumped-up charges. Dudley, an experienced oil executive, has gone into hiding.
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Investing in Russia? Plan to lose