TNK-BP HEAD: INVESTMENT MARKET IN RUSSIA IS NOT TO BE UNDERMINED BY YUKOS MATTER

BRUSSELS, May 14 (RIA Novosti) - Robert Dudley, president of the Russian-British (TNK-BP) oil company, asked by participants in the international Brussels seminar concerning Russia and Europe, said he did not think that the YUKOS matter could undermine the Russian oil market and foreign investment in Russia.

The tax audit conducted by the Russian tax ministry in the YUKOS company has levied taxes, penalties and fines to the tune of about 100 billion roubles. YUKOS was also prohibited from alienating its property , with the exception of the basic types of its products.

The TNK-BP head also expressed the opinion that Russia's entry into the World Trade Organisation would attract foreign investors and facilitate doing business in Russia for foreign entrepreneurs.

Besides, Dudley hopes to intensify dialogue between the European Union and Russia in the field of power engineering. He finds energy inter-dependence to be profitable for both sides.

The TNK-BP president called upon the EU to render assistance to European investors in a bid to invest in the Russian economy.

European Union countries account today for one third of all investment in Russia.