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 Saturday, June 07, 2008 |
Russia judicial process posing problems for foreign investment: Exxon CEO
Steve Czajkowski at 11:46 AM ET
[JURIST] The CEO of Exxon Mobil [corporate website], Rex Tillerson [corporate profile], said Saturday that Russia needs to make changes to its judicial system in order to attract foreign investment. Speaking at the St. Petersburg International Economic Forum (SPIEF) [official website], he said: "[Russia] must improve the functioning of its judicial system. There is no confidence in the rule of law in Russia today." Exxon operates large Esso and Mobil [corporate websites, in Russian] affiliates in the country. Reuters has more.
New Russian President Dmitry Medvedev [official profile] has made judicial reform a priority of his administration. In a speech in May he promised to take steps to tackle corruption and intimidation [JURIST report] in the Russian judicial system, calling for reforms to better train and support judges and to preserve the rule of law.
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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.
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