Email This Post - Print This Post Print This Post

By John Helmer in Moscow At 2:30 pm, London time today, Oleg Deripaska lost his appeal of the July 3, 2008, ruling by the High Court Justice Christopher Clarke, ordering him to face trial by the UK High Court on charges of defrauding his patron and business partner, Michael Cherney. Four of the most senior [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Three Japanese grain traders — Itochu, Sojitz, and Mitsui — are competing to establish the first major Russian grain export terminal at a Russian port on the Sea of Japan. Rapid growth of demand for wheat in the Asian markets, and the price and transport advantages of Russian grain, have [...]

Email This Post - Print This Post Print This Post

Compiled by John Helmer in Moscow The Financial Times Gunvor, Putin and me: the truth about Russian oil trader May 22 2008 03:00 From Mr Gennady Timchenko. Sir, Your article “On the offensive” (Analysis, May 15) purported to explain the rise of the oil trader Gunvor. However, it contained many inaccuracies and false claims. In [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Evraz, Russia’s largest steelmaker, has received its first rating downgrade from an international ratings agency. It also is the first time Roman Abramovich and Alexander Abramov, who share control of the Evraz group’s Russian and international assets through Mastercroft Limited, a Cyprus registered company, have been downgraded. According to an [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Under pressure of regional politicians, prosecutors and courts, Vadim Varshavsky (pictured left), owner of the Estar group of midsized and specialty Russian steelmills, has eliminated his legal liability for another one of his lossmaking, idled units, but the terms remain unclear. Varshavsky, who avoids press contact unless it is advertorial, [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Alexei Mordashov, owner of the Russian Severstal steel and mining group, has lifted his takeover offer for High River Gold (HRG:CN) by 8 Canadian cents per share, after his earlier bids for the 43% minority shareholding failed at 18 cents and 22 cents. The new offer is 30 cents. If [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Pressure on the new head of Alrosa, Fyodor Andreyev, to boost rough diamond sales by discounting the price made a prompt appearance in the Russian press — within hours of Andreyev taking his seat on July 15. “The new president of Alrosa has decided to increase sales using discounts”, claimed [...]

Email This Post - Print This Post Print This Post

On July 27, Russia’s NTV network broadcast an interview with President Dmitry Medvedev (the Russian name means “bear”). The President was asked about the image of the bear in recent Russian history, and for the future. Here is what he replied: QUESTION: You know, the widespread image of Russia in the world is a certain [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow Time to remember the famous advertisement of Wendy’s, the American burger chain, which contrasted the substance of its product with the paltriness of its rivals. So now let’s ask the biggest unanswered question in Russian political economy — what happened to the stimulus funding the Russian government was supposed to [...]

Email This Post - Print This Post Print This Post

By John Helmer in Moscow The growing number of tape-recorded disclosures from a bed belonging to Italian Prime Minister Silvio Berlusconi has attracted a rising vote of no-confidence in the prime minister from Italian voters, and unusual interest in what happened on the bed in much of western Europe. One Italian opinion poll published at [...]