No bail for Russia's richest man

Khodorkovsky attended the hearing amid tight security

Russian tycoon Mikhail Khodorkovsky will be held in jail for another three months, a Moscow court has ruled.

The former Yukos oil boss, who is charged with embezzlement and tax evasion, had been seeking bail.

His supporters say the case is politically motivated and claim the Kremlin is behind it.

The latest decision means that Mr Khodorkovsky - considered a potential candidate for the presidency - will be in jail on election day in March.

Mr Khodorkovsky's appearance in handcuffs on the opening day of the case on Monday was the first time he had been seen in public since his arrest in October.

He arrived in an armoured van, and officials said he had been placed behind metal bars in the courtroom.

Humiliation

The BBC's Stephen Dalziel describes the treatment of Mr Khodorkovsky as a form of public humiliation designed to punish him for breaking an unwritten rule that tycoons should stay out of politics.

Those who consciously stole should not get preferential treatment compared to those who behaved well and respected the law Russian President Vladimir Putin Hint of more action against tycoons

Before his arrest, he had been openly financing political parties opposed to the Kremlin.

Yukos - one of Russia's most successful companies - has come under increasing pressure since Mr Khodorkovsky's arrest.

Police have stepped up searches of the company's offices and have seized piles of documents.

Yukos' share price has tumbled, and a planned merger with Sibneft - which would have created the world's fourth largest oil company - has fallen through.

The case has shaken investor confidence in Russia and tarnished Moscow's reputation in the West.

No bail for Lebedev

Khodorkovsky supporters demonstrated outside the court

However, it has done no harm to President Vladimir Putin's standing among Russian voters.

He is expected to be re-elected on 14 March.

Another Moscow court on Tuesday turned down a bail application from a close associate of Mr Khodorkovsky, Yukos shareholder Platon Lebedev.

Mr Lebedev has been held since July in connection with the privatisation of a fertiliser firm.

The court said he could not go free as he might destroy evidence or put pressure on witnesses.