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By John Helmer, Moscow Evraz, the Russian steelmaker listed on the London Stock Exchange main board, is being sued in the UK High Court for $35.8 million by a group of Swiss investors over a failed project to build a terminal for iron-ore and coking coal at Yuzhny port, on the Ukrainian Black Sea coast […]

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  READER CAUTION: in tough times collection methods get tougher. The following translation from the Russian, originally published on June 14, is presented without editing. A slightly different version appeared in Izvestia on June 13. One of Russia’s leading investigative journalists comments: “the hired criminals did exactly what they were instructed. They did not kill, […]

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By John Helmer, Moscow Roman Trotsenko (centre), chief executive of the state-owned United Shipbuilding Corporation (USC), has resigned suddenly. No reason has been announced by USC, which has confirmed that Trotsenko is leaving by July 1. First appointed by the Kremlin in 2009 to oversee the consolidation of state stakes in shipyards around the country, […]

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By John Helmer, Moscow The annual general meeting (AGM) of Rusal shareholders in Hong Kong on Friday removed Anatoly Tikhonov (image centre) from the board of directors, and replaced him with Matthias Warnig. But meeting in virtual secrecy afterwards, the new Rusal board omitted a decision on the chairmanship from its agenda. Despite a press […]

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By John Helmer, Moscow A group of South Africans, led by Tokyo Sexwale (image left), has devised a scheme to take over mineral assets and mining concessions in the west African republic of Guinea, which the government plans to renationalize after revoking deals struck by previous Guinean governments. The Sexwale scheme is a growing threat […]

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By John Helmer, Moscow In the short run, possibly for three quarters of this year, BP, run by chief executive Bob Dudley, will be short of its half-billion dollar quarterly cash dividend from TNK-BP. In the long run, whether Mikhail Fridman and his partners sell their 50% stake in TNK-BP to BP or to another […]

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By John Helmer, Moscow The first international trade dispute involving Russian exports to be tabled since Russia was accepted in the World Trade Organization (WTO) is a claim by a US steelmaker that Alexei Mordashov’s Severstal is dumping hot-rolled steel products in the US market at a price below the domestic American price. That at […]

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By John Helmer, Moscow The Kremlin has not decided yet how it should privatize Alrosa, according to official disclosures at yesterday’s cabinet meeting chaired by Prime Minister Dmitry Medvedev. The kickback, I mean kickoff of the diamond privatization worth at least $14 billion remains out of reach for the time being.