U.S.-Russia Economic Relationship: Implications of the Yukos Affair

Wednesday, October 17, 2007, 2:00 p.m., 2128 Rayburn House Office Building
DIMP

 House Financial Services Subcommittee on Domestic and International Monetary Policy, Trade, and Technology to Hold Hearing to Review U.S.-Russian Economic Relations and the Implications of the Yukos Affair

Washington, DC – U.S. Representative Luis V. Gutierrez (D-IL), Chairman of the Subcommittee on Domestic and International Monetary Policy, Trade and Technology, today announced that the subcommittee will hold a hearing entitled: “U.S.-Russia Economic Relationship: Implications of the Yukos Affair.”

"This hearing will provide the subcommittee with an opportunity to closely examine the Yukos matter, including the losses suffered by U.S. shareholders, and determine what impact this incident will have on future U.S. investment in Russia," Gutierrez said. "U.S and other would-be foreign investors need to know whether the rule of law will be upheld in Russia.  Instances like the Yukos situation create an uncertainty among potential investors, which could result in a substantial loss of investment for Russia and impede its integration into the global economy.  The subcommittee seeks to determine whether the Yukos affair is an exception or the rule when it comes to Russian investment."