By John Helmer, Moscow

It was just five weeks ago that First Deputy Prime Minister Igor Shuvalov was pledging his allegiance to President Dmitry Medvedev and his unswerving compliance with the April 2 presidential decree ordering ministers of state to vacate their seats on state company boards.

In Shuvalov’s case, he insisted that under no circumstances could he consider sitting down upon the seat proposed for him as chairman of the board of one of the most lucrative property deals in Moscow – the multi-billion redevelopment of the Exhibition of the Achievements of the National Economy (VDNKh); this is now known for modern reasons as state-owned stockholding company (GAO), Vserossiyskiy Vystavochny Centr — VVC.
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by John Helmer - Friday, May 20th, 2011
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By John Helmer, Moscow

Far Eastern Shipping Co (FESCO), the troubled Russian dry-cargo fleet and ports group owned by Sergei Generalov, broke even on its operations last year, according to international-standard accounts for 2010, just released in Moscow. But Generalov was unable to stop the rot in his fleet arm, and only by radical amputation has he managed to turn a profit on the bottom line.
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by John Helmer - Thursday, May 19th, 2011
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By John Helmer, Moscow

Over the weekend, Ukrainian reports indicated that the Donetsk steelmaking assets in Ukraine, which went into bankruptcy in 2009, have been bought by Russia’s Mechel group, owned by Igor Zyuzin. The deal cost is reported to have been $537 million, including assumption of debts.

Confirmation of the sale appears in publication last Thursday in Ukraine of the agenda for a shareholder meeting scheduled on June 6, at which a vote is proposed on a purchase by Psarko Investments Ltd from Daveze Ltd. for $537 million.
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by John Helmer - Monday, May 16th, 2011
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By John Helmer, Moscow

The International Monetary Fund (IMF) often invoked its sovereign immunity to rape Russia’s governing institutions, including the Central Bank and the Supreme Soviet, in the years of collapse following the end of the Soviet Union. Michel Camdessus, a Frenchman, was the culprit then, instructed by the principal shareholders on the Fund board. It might even be said in exculpation of Camdessus that he was just following orders issued in the finale of the Cold War.
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by John Helmer - Monday, May 16th, 2011
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By John Helmer, Moscow

Vladimir Lisin (far right), owner of Russia’s powerful Novolipetsk steelmaking group and one of the country’s richest men, is the choice of Deputy Prime Minister Igor Sechin (3rd from left) for new board chairman of the state shipyard conglomerate, United Shipbuilding Corporation (USC).
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by John Helmer - Friday, May 13th, 2011
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By John Helmer, Moscow

The comic book character known as the Gambit was kidnapped from the hospital where he was born and raised by a gang of thieves. He got his way with unusual powers, like kinetic energy and hypnosis. He was also famous for his skill at card-throwing and combat with a long stick. He was distrusted by his peers, but loved by the ladies. He ranks 65th on the Top 100 Comic Book Heroes of All Time.
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by John Helmer - Thursday, May 12th, 2011
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By John Helmer, Moscow

Despite the enormous publicity for Glencore’s initial public offering (IPO) on the London Stock Exchange this month, and participation in the underwriting and book-running of the Russian state savings bank Sberbank, the massive Glencore prospectus says almost nothing about the trading company’s Russian business. And on the key question grain traders have been discussing for months – how many billions of dollars did Glencore lose last year after the Kremlin imposed an embargo on grain exports? – Glencore’s documents say nothing at all.
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by John Helmer - Wednesday, May 11th, 2011
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By John Helmer, Moscow

After the report appearing yesterday on Rusal’s negotiations with the Government of Guinea was published, the following fresh information was communicated by a member of staff of President Alpha Conde, and confirmed by other Guinean sources.
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by John Helmer - Wednesday, May 11th, 2011
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By John Helmer, Moscow

In a series of preemptory dismissals, the head of global alumina operations for United Company Rusal, Yakov Itskov (left image), and his chief executive Oleg Deripaska (right image), have been ordered out of the rooms of Guinea’s two mining ministers, Mahmoud Thiam, and his successor, Mohammed Lamine Fofana, after the ministers told them they had insulted the Guinean government. A Kremlin salvage operation was then despatched to Conakry, the Guinean capital, headed by Russia’s mining minister Yury Trutnev. But that hasn’t stopped the new Guinean president Alpha Conde, ordering his negotiators to demand Rusal surrender half or more of its billion-dollar Dian-Dian bauxite concession, and pay $860 million in compensation for past tax and customs duties avoidance at its two other Guinean mines, Kindia and Friguia.
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by John Helmer - Monday, May 9th, 2011
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By John Helmer, Moscow

When self-proclaimed strategic allies like Russia and China fail to see eye to eye, they do their best to mask their differences, issuing communiqués promising amicable solutions at the next round of negotiations, or the one after that. If Moscow and Beijing fall out, the cordiality dries up, and the mutual silence can be deafening. But not this time round. Just four months since the first Russian crude oil started pumping into Daqing, the northeastern Chinese oil town, the Russian pipeline company Transneft has charged the China National Petroleum Company (CNPC) with violating their supply contract, and is threatening to open court proceedings in London.
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by John Helmer - Wednesday, May 4th, 2011
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