Russian president, Vladimir Putin has pardoned oil tycoon Mikhail Khodorkovsky, and is due to be released from jail.

Mr Putin signed a decree earlier pardoning Khodorkovsky on the basis of “the principles of humanity”.

The pardon comes after Russian MPs backed a wide-ranging amnesty for at least 20,000 prisoners.

The president said on Thursday that the former oil magnate had asked him for clemency because his mother was ill.

Khodorkovsky was in   jail 10 years for tax evasion and theft after funding opposition parties.