Former Yukos CEO Mikhail Khodorkovsky, who was pardoned by Russian President Vladimir Putin on Friday, has been released from his penitentiary, the country's Federal Penitentiary Institutions Service (FSIN) said in a press release, seen by Interfax.

"President of the Russian Federation V. V. Putin signed a decree to pardon Khodorkovsky, who has been relieved of the obligation to further serve his sentence in accordance with this document," it said.

Former Yukos CEO Mikhail Khodorkovsky was arrested in 2003. In May 2005, a district court in Moscow sentenced him to nine years in prison for fraud and tax evasion. The Moscow City Court later reduced the sentence to eight years.

When the trial was close to completion, reports on a second case against Khodorkovsky emerged.

In December 2010, Khodorkovsky was sentenced to 14 years in prison for oil theft and legalization of proceeds from its sale.

Six months later, the Moscow City Court cut the sentence to 13 years. The duration of Khodorkovsky's prison term is counted from the moment he was arrested under the first Yukos case in 2003.

On August 6, 2012, the Supreme Court partially upheld a complaint filed by the defense teams of Khodorkovsky and his former business partner and former Menatep CEO Platon Lebedev and cut their sentences by two months.

The Supreme Court refused to cut the sentences to the time Khodorkovsky and Lebedev had actually served and free them. Khodorkovsky's revised sentence would expire in August 2014 and Lebedev's in May 2014.

Deputy Prosecutor General Alexander Zvyagintsev told Interfax on December 6, 2013 that several criminal cases, "which have good court prospects," were being investigated against Khodorkovsky.

A source familiar with the situation told Interfax later that investigators were probing the laundering of over $10 billion "embezzled by Khodorkovsky and others."

The source said investigators were also probing possible uses of the legalized money to amend Russian laws.

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