By John Helmer, Moscow A leading shipbroker confirms that Suleiman Kerimov’s 90-metre motor yacht Ice is for sale at €200 million. “It is quietly on the market, but it is not being actively marketed,” the source revealed on Monday, days after the sale notice went up for Kerimov’s French beach house at €20 million.

by John Helmer - Tuesday, October 25th, 2011
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By John Helmer, Moscow A website property sales agency, calling itself “specialized in urgent and forced sales of Luxury Properties, Super Cars & Yachts”, is offering Suleiman Kerimov’s holiday residence at Medy Roc, at Cap d’Antibes on the French coast. The sale notice is dated October 20, last week. A number of notable Russian-owned properties […]

by John Helmer - Monday, October 24th, 2011
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By John Helmer, Moscow Alrosa revealed this week that it has suffered a setback in the management’s plan to sell up to 20% of the company’s state-owned shares in an initial public offering (IPO).

by John Helmer - Friday, October 21st, 2011
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By John Helmer, Moscow A Canadian Supreme Court judge has ruled that Alexei Mordashov rode roughshod over the rights of minority shareholders in Crew Gold, when Mordashov’s gold group completed its takeover of Crew Gold, and paid $4.65 per share to buy up minority shareholders. Justice Ronald Veale, the senior judge of the Supreme Court […]

by John Helmer - Tuesday, October 18th, 2011
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By John Helmer, Moscow In the long history of English justice, it has happened before that candidates for the seats of the highest court in land have been obliged to rehearse their talents and qualifications before the monarch on his throne (aka the Crown). And not only their qualifications, technical and professional, but also their […]

by John Helmer - Monday, October 17th, 2011
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By John Helmer, Moscow Renco and its subsidiary RG Steel, the defendants in Severstal’s New York court claim, have a month to file their reply, and for the time being they are saying nothing. Bette Kovach, spokesman for RG Steel, and Andrew Shea, spokesman for Renco, say they “will not comment on matters in litigation.” […]

by John Helmer - Sunday, October 16th, 2011
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By John Helmer, Moscow Severstal has issued a claim in US Federal Court (Manhattan Southern District) against RG Steel, a unit of the private American steelmaking group, Renco. Severstal owner Alexei Mordashov (left image) wants it to be known in the Russian media that he thinks he’s been stiffed. But he doesn’t want anyone to […]

by John Helmer - Friday, October 14th, 2011
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By John Helmer, Moscow Fitch Ratings issued a modified warning on Sovcomflot this week, claiming that the big Russian’s tanker revenues were at risk of coming up short against the company’s obligations. In that event, Fitch London analyst Jeannine Arnold reports, Sovcomflot may have to sell off the hulls and newbuildings which are on order, […]

by John Helmer - Thursday, October 13th, 2011
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By John Helmer, Moscow When crisis strikes the global steel sector, sales revenues drop faster than costs, and earnings and profits shrink. The normal correction is for mill owners to cut their costs by reducing production, closing furnaces, furloughing workers, trimming supply of steel into the marketplace, cutting product prices to clear unsold inventories, and […]

by John Helmer - Thursday, October 13th, 2011
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By John Helmer, Moscow The Russian government has made good on an earlier threat to penalize grain exports if the export tonnage exceeds the level that threatens domestic supplies and triggers grain and bread price increases before the December parliamentary elections. Fear of bread price rises detonating voter discontent first appeared a year ago, when […]

by John Helmer - Wednesday, October 12th, 2011
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