Mr. Nevzlin confirmed that YUKOS, which saw 44 percent of its stock seized by Russian prosecutors, was still in talks to sell a stake to foreign investors. However, he noted that the company faced a crisis from "systematic persecution" aimed at wrecking its profit base. In Mr. Nevzlin’s opinion, the climate for big business would not change after presidential elections next March, and the prosecutions will continue.

On Monday, Leonid Nevzlin submitted his resignation as Rector of the Russian State Humanitarian University. Earlier, he said in an interview with NTV television that he was under pressure from the authorities to resign. According to Mr. Nevzlin, the authorities wanted that he, one of key shareholders in YUKOS, resign as the head of a prestigious higher educational establishment.

The issue about Mr. Nevzlin’s resignation was raised last week at a meeting of the University’s Scientific Council, attended by Russian Education Minister Vladimir Filippov, due to Mr. Nevzlin’s prolonged absence from work. Leonid Nevzlin arrived in Israel following the arrest of YUKOS CEO Mikhail Khodorkovsky on fraud and tax evasion charges late last month. The businessman, who has a Jewish grandparent, applied for Israeli citizenship and received it.