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By John Helmer in Moscow Unprecedented disclosure of the financial intimacies of world tanker leader, state-owned Sovcomflot, continues in the UK High Court in London as Igor Borisenko, the former chief financial officer and deputy CEO of Sovcomflot, returns to the witness stand today and tomorrow. Borisenko has told the judge that, although he was […]

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By John Helmer Sergey Frank, Sovcomflot’s chief executive, has testified in the High Court that he knew nothing about an illegal information- gathering operation, targeted against his rival and former CEO, Dmitry Skarga, but that the figure in charge, who is referred to in the court evidence, may have been Russia’s Deputy Prime Minister, Igor […]

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By John Helmer in Moscow On Thursday, the Russian state shipping company Sovcomflot (SCF) opened its three-year old, $800 million claim in the UK High Court; Justice Andrew Smith is presiding. Preliminary applications were heard on the first day, along with a presentation by the barrister representing Sovcomflot. Presentations for the defence commence today. Next […]

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By John Helmer in Moscow Russia’s Economic Development Minister, Elvira Nabiullina (pictured left), has confirmed the government’s intention to privatize the shares of the oil tanker group, Sovcomflot (SCF), which is currently 100% owned by the state. Nabiullina, speaking at an investment conference in Moscow, said that in order to increase state budget revenues, the […]

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By John Helmer in Moscow The state-owned tanker company Sovcomflot will try to sell up to 20% of its shares in a public offering, the former board chairman Igor Shuvalov (pictured right) said yesterday. But the timing may be delayed if a UK High Court trial, focusing on the company’s internal affairs, goes against the […]

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By John Helmer in Moscow Steady as she goes — that isn’t exactly the message from Sovcomflot, Russia’s largest shipping company, and one of the five largest energy shipping, oil and gas tanker fleets in the world. Analysts at Moody’s Investors Service have issued a rating downgrade for the state-owned shipping company Sovcomflot, with a […]

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By John Helmer in Moscow State-owned maritime fleet leader Sovcomflot is making a last-ditch bid to reap value for its bonus-holders before the Russian presidential election on March 2. But the lack of time isn’t the only catch. Sovcomflot ‘s bid to buy out minority shareholders of Novorossiysk Shipping Company (Novoship) has been rejected by […]

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By John Helmer, Moscow As midnight tolled in Washington, DC, and January 29 slid into January 30, the deadline for the US Government to produce a report to the Congress listing Russian oligarchs close to President Vladimir Putin slipped by in the darkness. No dog barked.* Required by the Countering America’s Adversaries Through Sanctions Act […]

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By John Helmer, Moscow Four years ago almost precisely, on January 12, 2014 – just before the Anglo-American war against Russia began in earnest — we reported that the Moscow School of Management at Skolkovo was publishing what it called  a market atlas of the jobs and professions which will be newly needed by the […]

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By John Helmer, Moscow Sergei Frank, a former federal transport minister and chief executive of the state shipping company Sovcomflot since 2004, is unique among Russian state officials. He is the only one to have been adjudicated by a series of UK judges to have lied, been dishonest in evidence-gathering, and vindictive in his use […]