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THERE WILL BE NO SITUATION SIMILAR TO YUKOS, IF COMPANIES COMPLY WITH LAW, GERMAN GREF

MOSCOW, June 21 (RIA Novosti) - "There will be no situation similar to the Yukos case, if companies comply with legislation," Russian minister of economic development and trade German Gref said while replying to journalists' questions at an investment conference organized by Renaissance Capital.

"It is very important (for investors) to comply with the norms of legislation, observe business culture and their own reputation," the minister said.

"There is nothing to fear for those who adhere to the letter of law. They are under the protection of law and the entire state," German Gref said.

There are political risks (for investors) in Russia, like in any other country, he said. "However, these political risks are by a factor lower in Russia than in a whole number of countries, which attract hundreds of billions of US dollars," German Gref said.

"Today political risks are not dominating for us," he added. It is much more important to eliminate economic risks linked with the weak infrastructure, the minister believes.

There is a political component in the Yukos case but it is not a key one, German Gref said. In his opinion, a political component is a normal way for the company to protect itself." "The company has declared on many occasions this political component, including its participation in many political processes," the minister noted.

However, it is perfectly clear that this component is not a key one. The key point is that the company was brought to criminal an administrative account for failure to comply with tax legislation, Gref said.