Russia's weak judiciary hampers investment-Exxon CEO

ST PETERSBURG, June 7 Sat Jun 7, 2008 8:12am EDT

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ST PETERSBURG, June 7 (Reuters) - There is no trust in Russia's judicial system today, and that must change if it is to attract major foreign investment, the chairman and CEO of ExxonMobil Corporation (CVX.N), Rex Tillerson, said on Saturday.

"The one thing Russia must advance in order to attract large scale foreign investors...it must improve the functioning of its judicial system. There is no confidence in the rule of law in Russia today," Tillerson told an economic forum in Russia's second largest city of St. Petersburg. (Reporting by Dmitry Zhdannikov, Writing by Simon Shuster, Editing by Tanya Mosolova)

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