Russian oil tycoon trial resumes

Oil magnate Mikhail Khodorkovsky is back in court on Monday, in one of Russia's most significant legal cases since the fall of the Soviet Union.

As the trial resumes, Yukos faces a possible fire sale of its assets after failing to meet a $3.4bn tax deadline.

Bailiffs have seized computer equipment and frozen bank accounts as they step up the pressure on Yukos.

The company's future could depend on Mr Khodorkovsky and other shareholders striking a deal with the government.

Mr Khodorkovsky, who is accused of fraud, embezzlement and tax evasion, will watch the court proceedings according to Russian court practice - from inside a metal cage.

Crackdown

The trial of Mr Khodorkovsky, who is worth about £15bn, is the centre-piece of a crackdown on billionaire Russian businessmen - the so-called oligarchs - who made fortunes out of privatisations in the early 1990s.

Mr Khodorkovsky was arrested in October 2003, when armed members of the security police force FSB stormed his private jet at an airport in Siberia.

He has been detained ever since, and the trial has been going on since 16 June.

Platon Lebedev, another Yukos shareholder, who was arrested a year ago on similar charges, will also be in court.

The hearing could end in a further adjournment in a trial which looks set to continue for some time to come.

HERE