LONDON (AP) -- Denial of parole for a jailed Russian oil tycoon and tension between Russia and the West over Moscow's military clash with Georgia are giving global investors increasing reasons to worry whether the country is the right place to be.The refusal Friday by a Siberian court to grant early release for former Yukos head Mikhail Khodorkovsky came as investors were already pulling money out because of falling oil prices, the spreading global credit crunch and fears of political meddling in business.
The dollar-denominated MICEX index of leading Russian stocks has dipped 4 percent since the start of hostilities in Georgia on Aug. 8, and interest rates on some Russia bonds have risen compared to U.S. Treasuries, indicating greater perception of risk.
"Unknown political risk and constant negative headlines are not likely to induce investors to buy," investment bank Troika Dialog said in a report earlier this week.
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